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Purchase, NY, January 11, 2023 /PRNewswire/ – Central National Gottsman Inc. (CNG), a $9B SP Richards (SPR), a global sales, marketing and distribution leader in the pulp, paper, tissue, packaging, wood products and metals industries, has announced that it has signed an acquisition agreement to acquire independent commercial products wholesaler. Atlanta, Georgia. The closure is expected to take place January 31, 2023.
SPR operates a network of 30 full-stock distribution centers strategically placed throughout the US to support more than 8,000 sellers, including office products dealers, JanSan distributors, online e-retailers and more. SPR supports the growth of its resellers by acquiring a wide range of branded and private label products in key categories such as office furniture and home furnishings, business technology equipment, appliances and cleaning supplies, and toilet and safety equipment.
“SP Richards is a leader in this market, and we are very excited about its national distribution capabilities,” he said. Andrew Walsh, President and CEO of CNG. “We believe we can grow the business over time in a way that benefits our customers, suppliers and employees, and we are excited to welcome our new SPR colleagues to the CNG family.”
Wallach added CNG Senior Vice President Bill Meany In addition to his current responsibilities at CNG, he will assume the leadership role and become the President of SPR.
“We are committed to enhancing the valuable service that SPR provides to its independent dealer network and suppliers,” said Meaney. “We look forward to working with the talented team at SPR.”
SPR Executive Chairman Yancey Jones and President and CEO Mike Maggio He will continue with the company in management consulting roles.
“The acquisition by CNG will allow SPR to continue our strategic growth plans through investment and improved inventory,” said Jones, president of SPR’s advisory board. “Mike and I have always believed that an independent wholesaler is critical to the success of our customers and supplier partners, and CNG SPR understands the importance of remaining a traditional wholesaler.”
“Finding a like-minded company that believes in a strong employee-first culture was a priority when exploring this exciting opportunity,” said Maggio, a senior consultant and advisory board member at Meany, who will remain with the firm. CNG”
The firm will continue to operate as SP Richards and expects minimal operational changes to the business beyond investments in updated logistics, technology, inventory and warehouse systems to support the company’s long-term growth strategy.
About Central National Gottesman Inc.
Central National Gottesman Inc. (CNG) a $9B A sales and distribution company with businesses in the global pulp, paper, tissue, packaging, wood products and metals industries. Founded in 1886 and headquarters Purchase, NY, CNG employs 3,100 people in 29 countries worldwide. CNG is privately held and family owned for over 137 years, using market knowledge and adaptability to create value for customers around the world. To learn more, please visit https://www.cng-inc.com/
Source: Central National Gothams Inc.
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