CNG's Munroe to Acquire Domtar's Ariva U.S. Distribution
PURCHASE, NY—Central National-Gottesman (CNG) announced that it has entered into an agreement with Domtar Corp. pursuant to which Lindenmeyr Munroe, a division of CNG, will acquire the U.S. operations of Domtar's Ariva paper distribution business.
Ariva, headquartered in Covington, KY, is a U.S. paper distributor with 15 locations in the East and Midwest. The closing is expected to take place by the end of July 2013. Immediately after the closing, CNG has agreed to sell the Midwest locations of Ariva, located in Cincinnati, Cleveland, Columbus, OH, Dayton, OH, Fort Wayne, IN, and Indianapolis, to The Millcraft Paper Co., a paper merchant headquartered in Cleveland.
"Ariva is a respected paper distributor with a long history of providing high-quality products and services," said Ken Wallach, chairman and CEO of Central National-Gottesman. "We are pleased to have the opportunity to combine the successful Ariva operations in the East with our existing Lindenmeyr Munroe locations in the region, while at the same time finding an excellent home for Ariva's Midwest operations with Millcraft. We expect this acquisition to enable us to offer our customers and suppliers along the East Coast with an unrivaled level of service while strengthening
our leading position in this important market."
This transaction is CNG's sixth acquisition of a paper merchant in the past four years, including five in the United States and one overseas.