xpedx Provides Additional Details on its Pending Acquisition of Central Lewmar
LOVELAND, OH—August 13, 2007—xpedx parent International Paper Co. today announced that xpedx will acquire Central Lewmar, Strategic Paper Co., and all other Central Lewmar companies. Privately held Central Lewmar is a large Newark, NJ-based distributor of printing and publishing papers with more than $900 million in 2006 revenues. It will become a division of xpedx.
xpedx said that North America printers and publishers would not see any immediate changes following the close of the acquisition in about 30 days. The company said the planned acquisition would enable both Central Lewmar and xpedx customers to continue to access a wide choice in supplies and services.
Central Lewmar’s management team is to remain in place and all Central Lewmar companies are to continue doing business under their existing names. xpedx and Central Lewmar provide printing and publishing papers from manufacturers across North America and worldwide.
“The combination of xpedx and Central Lewmar’s resources and local market presence will increase benefits for customers of both companies,” said Jeff Higgins, xpedx corporate Director of Marketing Services. “xpedx and Central Lewmar will have the broadest, most competitive offering of the products and services printers and publishers need every day.”
“Central Lewmar is a well-run company with an excellent reputation for customer service and strong customer relationships, making it an obvious fit for xpedx,” Higgins added.
Central Lewmar is on the ground in 14 locations in nine Northeast and Mid-Atlantic states and has more than 6,500 customers, primarily printers and publishers. It has more than 400,000 square feet of warehouse space. xpedx has more than 10 million square feet of warehouse space and more than 240 locations across North America. xpedx also has more than 60,000 customers across North America, and does business with the majority of commercial and in-plant printers in the U.S.
Strategic Paper Co., a large supplier of publishing papers, will operate alongside xpedx-owned Bulkley Dunton, a large U.S. distributor of publishing papers based in New York City. Both companies serve magazine and book publishers as well as the retail, catalog, advertising and direct mail industries.