Central National-Gottesman (CNG) has signed a definitive purchase agreement with a subsidiary of PaperlinX Ltd. to acquire its U.S. paper operations, which consist of Spicers Paper and Kelly Paper.
Spicers Paper, headquartered in Santa Fe Springs, CA, is a major U.S. paper distributor with 12 warehouse locations in the West and Midwest. Kelly Paper, headquartered in City of Industry, CA, operates a chain of paper stores with 48 locations across four Western states.
Combined sales for both companies were approximately $500 million in the company’s most recent fiscal year. This transaction is CNG’s fifth acquisition of a paper merchant in the past three years, including four in the states and one overseas.
