ATLANTA (News release) -- Veritiv Operating Company, a leader in specialty packaging distribution, announced today that it has acquired substantially all the assets of PAX Global, a distributor and converter of custom packaging products with annual revenues of approximately $45 million.

"The acquisition represents an investment in building on our industry-leading packaging distribution capabilities by enhancing our design and international sourcing capabilities and establishing new competencies in folding carton and film converting," said Sal Abbate, Chief Executive Officer of Veritiv. "It advances our efforts to create a national platform to better serve customers and further expands our position as the leading specialty provider of value-added packaging products and solutions from design to delivery. We look forward to welcoming PAX Global's employees, customers, and suppliers to the Veritiv team as we continue delivering innovative and sustainable products and services to our customers today - and into the future."

The PAX Global family of companies includes Doran & Ward, DCP International, and Pioneer Packaging, which collectively represent 160 years' experience in the custom packaging market. PAX Global broadens Veritiv's presence in custom packaging across core substrates, establishes new competencies with folding carton and film converting to help increase speed to market, and brings new value-added services capabilities to our existing customers. The company's long-tenured customer base expands Veritiv's presence in personal care, food, and pharmaceuticals.

"At PAX Global, we have built a foundation by acquiring and building out a highly talented workforce that enables us to streamline our customers' supply chains as a single source for design, manufacturing, procurement, project management, and distribution of custom packaging products and solutions," said Bruce Caldwell, President of PAX Global. "We are excited to join the Veritiv team and the opportunity it provides to expand our services and our reach through Veritiv's established commercial infrastructure, packaging procurement and distribution expertise, and enhanced design and testing capabilities. We are equally excited for the future opportunities it will provide our workforce and look forward to building on our current success and enhancing our service to customers as part of the Veritiv team."

The PAX Global workforce is located across sites in Naperville, IL, Burlington, IA, Centennial, CO, and Shenzen and Hong Kong, China.