Central National-Gottesman Inc. (CNG) announced recently the expansion of its North American distribution business, adding Spicers Canada to its growing portfolio of regional paper merchants.
Terms of the deal were not disclosed.
Headquartered in Vaughan, Ontario , Spicers Canada is one of the country's primary distributors of fine paper, sign and display media, industrial packaging and graphic arts supplies. The company operates 15 warehouse locations throughout Canada, as well as sheeting facilities and cash-and-carry stores serving local markets.
"Spicers Canada has a very strong competitive position in the market, reflecting its scale, deep set of service capabilities and exceptional leadership," said Andrew Wallach , CNG President and Chief Executive Officer. "We are looking forward to working with [president] Cory Turner and his team to build upon the company's excellent reputation and market leadership."
A subsidiary of Australia -based PaperlinX Limited, Spicers Canada has been in business for more than 70 years. The company will continue to operate independently to ensure continuity with its distinct customer service, suppliers and nearly 500 employees.
Spicers Canada represents the eighth acquisition of a regional paper merchant since 2010 for CNG's North American distribution division and is expected to add approximately C$400 million in annual sales.
"This transaction is an excellent fit with our existing strategy to grow organically and through strategic acquisitions," added Ken Wallach , CNG's Executive Chairman. "We believe it demonstrates our enduring commitment to the paper distribution business in North America ."
