CNG Acquires Business Products Wholesaler S.P. Richards Purchase, New York based Central National Gottesman Inc. (CNG), a $9 billion global sales, marketing, and distri- bution leader in the pulp, paper, tissue, packaging, wood products, and metals industries, announced that it has signed a definitive purchase agreement to acquire S.P. Richards (SPR), an independent business products whole- saler based in Atlanta, Georgia. The closing is expected to take place on January 31, 2023. SPR operates from a network of 30 full-stocking distri- bution centers strategically positioned across the United States to support more than 8,000 resellers, including of- fice products dealers, JanSan distributors, online e-tailers, and others. SPR supports the growth of its resellers with access to a broad offering of branded and private label products in key categories such as office supplies and furniture, busi- ness technology equipment, facilities and janitorial sup- plies, breakroom, and safety equipment. “S.P. Richards is a leader in this market space, and we are excited about its national distribution capabilities,” said Andrew Wallach, President and CEO of CNG. “We believe we can grow the business over time in a way that will ben- efit our customers, suppliers and employees, and we are thrilled to welcome our new SPR colleagues to the CNG family.” Wallach added that CNG Senior Vice President Bill Mea- ny will become President of SPR, assuming the leadership role in addition to his current responsibilities at CNG. “We are committed to enhancing the valuable services that SPR provides to the independent dealer network and its suppliers,” said Meany. “We look forward to working alongside the talented team at SPR.” SPR Executive Chairman Yancey Jones and President and CEO Mike Maggio will continue with the organization in leadership advisory roles. “The acquisition by CNG allows SPR to continue our strategic growth plans through investments and an en- hanced inventory position,” said Jones, who will become President of the SPR Advisory Board. “Mike and I have al- ways believed that an independent wholesaler is critical to the success of our customers and supplier partners, and CNG understands the importance of SPR remaining a tra- ditional wholesaler.” Maggio, who will continue with the organization as a Senior Advisor to Meany and member of the advisory board, said that “finding a like-minded company that be- lieves in a strong employee-first culture was a top priority as we explored this exciting opportunity with CNG.” The organization will continue to operate as S.P. Rich- ards and anticipates minimal operational changes to the business beyond ongoing investment in updated logistics, technology, additional inventory, and warehousing sys- tems to support the company’s long-term growth strategy.
Board Converting NEWS INTERNET DIRECTORY
SAUER SYSTEM www.sauersystem.com
Sauer provides intelligent solutions for scoring, slitting, slit-scoring, and perforating on corrugators and floor slitters; and glue tab cutting, creasing, slotting, trimming and scrap chopping on presses. New, featured offerings include FRX Adjustable Folding Rail System and G3 Scoring System: the latest proven creasing technology on the market.
STAFFORD GROUP www.go2stafford.com
Interactive website for Stafford Corrugated Products and Stafford Cutting Dies. Featuring online ordering of replace- ment parts. Also, visitors can automatically calculate sheet size for most die-cut standards.
SUN AUTOMATION GROUP ® www.sunautomation.com
SUN Automation Group is the global leader in providing innovative solutions to the corrugated industry. SUN engi- neers and builds the SUN625 Rotary Die Cutter, provides sales, service and support in North and Central America for Latitude Machinery Corporation, manufacturer of Mini to Jumbo FFG and RDCs. Additionally, SUN is the North Amer- ican, UK and Ireland sales and service provider for Para Machinery’s line of equipment, and is the North American sales provider for Highcon. SUN also powers the corrugat- ed industry’s premier IIoT platform, Helios, and is the OEM source for Langston/Staley equipment parts and service. THACKER INDUSTRIAL SERVICE COMPANY www.thackerindustrial.com Specializing in corrugated machinery, T.I.S.CO. offers quali- ty-made products, support services, and more. T.I.S.CO. has a reputation of dependability, not only in the product, but in service and support. With more than 25 years’ experience, T.I.S.CO. installs equipment and machinery, moves or sets up entire plants, rewires and rebuilds - all over the world. VT GROUP www.vtgrouponline.com VT offers prepress services for the POP display and corru- gated shipping container industry including graphic design, optimized digitally imaged printing plates and innovative pre-mounting solutions. Our large-format digital printing fa- cility (Digital Impact) is a leading short-run manufacturer of distinctive POP displays and signage where litho-like graph-
ics are preferred. WPR SERVICES www.wprservices.net
WPR Services was established in 2016. What originally start- ed as a technical services company expanded its product offerings to include a machine center learning platform POWtalk™. Our analysis of video, audio, machine metrics, employee ergometrics, and person to person conversation provides a way to identify safety and process inefficiencies.
40
www.boardconvertingnews.com
January 23, 2023
Made with FlippingBook flipbook maker