If You Invested in Veritiv Corp (VRTV)

Veritiv Corporation (historically listed on the New York Stock Exchange under the ticker VRTV) is described as a full-service provider of packaging, JanSan and hygiene products, services and solutions, and a distributor of print and publishing products. The company is headquartered in Atlanta and has been characterized in its public communications as a business-to-business distribution solutions company serving customers across a wide range of industries in North America and globally.

According to multiple company news releases, Veritiv operates distribution centers throughout the U.S. and Mexico and employs team members around the world who support its customers. Its activities place it within the broader wholesale trade sector, with ties to packaging, facility solutions, and print-related product distribution. The company has also been identified as a Fortune 500 company in its own disclosures, reflecting its historical scale and presence in the U.S. corporate landscape.

Veritiv’s business model, as described in its own announcements, centers on supplying packaging materials and related services, JanSan and hygiene products, and print and publishing products to business customers. These offerings support customers in many different industries, and the company highlights its ability to serve both North American and global markets through its network of distribution centers and international team members.

Corporate status and ownership

On August 7, 2023, Veritiv announced that it had entered into a definitive agreement to be acquired by an affiliate of Clayton, Dubilier & Rice, LLC (CD&R). The company stated that, upon completion of the transaction, Veritiv would become a privately held company and that its common stock would no longer be listed on any public markets. On November 30, 2023, Veritiv reported that CD&R had completed its acquisition of the company, and that Veritiv’s common stock had ceased trading and was no longer listed on the New York Stock Exchange.

As a result, VRTV now represents the historical public listing of Veritiv Corporation rather than an actively traded common stock. The company continues to describe itself, post-transaction, as a leading distributor of packaging, facility solutions, and print products and as a full-service provider of packaging, JanSan and hygiene products, services and solutions, but it operates under private ownership affiliated with CD&R.

Business focus and segments

In its earnings and corporate communications, Veritiv emphasizes a diversified and complementary portfolio of products and industry verticals. The company highlights three main areas of activity:

• Packaging – products and services that support customers’ packaging needs, referenced as a key contributor to the company’s financial performance.
• Facility solutions, JanSan and hygiene – products and services that support facilities, cleaning, and hygiene requirements for business customers.
• Print and publishing products – distribution of print and publishing-related products, which the company notes have faced industry-wide demand headwinds.

Veritiv’s public statements describe its business as serving customers in a wide range of industries, both in North America and globally, with distribution centers throughout the U.S. and Mexico. The company has also referred to its business model as “recession-resistant” in the context of its diversified product portfolio and industry verticals.

Geographic footprint

Company news releases state that Veritiv is headquartered in Atlanta and that it operates distribution centers throughout the U.S. and Mexico. The company also notes that it serves customers in North America and globally, and that it has team members around the world. Earlier descriptions referred to Veritiv as a North American business-to-business distribution solutions company, underscoring the importance of its North American network.

Historical public company profile

While it was publicly traded on the NYSE under the symbol VRTV, Veritiv issued regular quarterly financial results, hosted earnings calls and webcasts, and provided guidance on metrics such as net income, adjusted EBITDA, and free cash flow. The company’s communications referenced segments such as Packaging, Facility Solutions, and Print Solutions when discussing performance. Veritiv also announced dividends to shareholders prior to the completion of the CD&R acquisition.

In its public disclosures, Veritiv highlighted factors such as working capital management, free cash flow generation, and leverage ratios as important aspects of its financial profile. The company also noted that it had been named a World’s Most Admired Company by Fortune Magazine in one of its earnings releases, presenting this as recognition of its position within its peer group.

Corporate responsibility and community engagement

Veritiv has described a corporate social responsibility and community engagement program known as Veritiv Connects. Through this program, the company announced commitments to national nonprofit organizations including Boys & Girls Clubs of America and Purpose Built Communities. The stated focus of Veritiv Connects is on programs that help individuals learn, grow, and thrive, with education at the core of the company’s community efforts.

In its description of these partnerships, Veritiv emphasized goals such as creating safe and sustainable neighborhoods, providing mentorship opportunities for youth, and contributing to a vibrant workforce. The company also highlighted volunteer opportunities for its employees in various U.S. cities as part of these relationships.

Position within the wholesale and distribution sector

Veritiv’s activities place it in the wholesale trade sector, with a specific focus on packaging, facility solutions, JanSan and hygiene products, and print and publishing products. The company has described itself as a business-to-business distribution solutions company and as a specialty distribution solutions company, indicating an emphasis on tailored distribution and related services for business customers rather than direct-to-consumer sales.

In its own communications, Veritiv has referred to its “differentiated operational and service capabilities” and to strong customer and supplier relationships, particularly in connection with the CD&R acquisition announcement. These statements underscore the company’s view of its role as an intermediary that connects suppliers and business customers through distribution, products, and related services.

VRTV as a historical ticker

Because Veritiv’s acquisition by an affiliate of CD&R has been completed and its common stock has ceased trading on the NYSE, the VRTV symbol is best understood as a historical reference to Veritiv’s period as a publicly listed company. Investors researching VRTV today are typically looking for historical information about Veritiv’s former public listing, its business profile during that time, and the circumstances of its transition to private ownership.

Key points for investors and researchers

• Veritiv Corporation was historically traded on the NYSE under the ticker VRTV.
• The company describes itself as a full-service provider of packaging, JanSan and hygiene products, services and solutions, and as a distributor of print and publishing products.
• Veritiv is headquartered in Atlanta and operates distribution centers throughout the U.S. and Mexico, serving customers in North America and globally.
• An affiliate of Clayton, Dubilier & Rice, LLC completed its acquisition of Veritiv on November 30, 2023, after which Veritiv became a privately held company and its common stock ceased trading on the NYSE.
• Veritiv has emphasized a diversified product and industry portfolio, a business-to-business distribution focus, and community engagement through its Veritiv Connects program.