Central National-Gottesman signs agreement for its Lindenmeyr Munroe division to acquire Illinois-based, family owned paper merchant Bradner Central, strengthening CNG's presence in Midwest; transaction expected to close on Nov. 15
PURCHASE, New York
November 4, 2013
– Central National-Gottesman Inc (CNG) today announced that it has signed a definitive Purchase Agreement for its Lindenmeyr Munroe division to acquire the assets and business of Bradner Central Company, one of the oldest and most highly regarded family-owned paper merchants in the United States. Bradner is headquartered in Elk Grove Village, IL (Bradner Smith; Rotary Paper Manifold) with operations in Butler and Appleton, WI (Bradner Smith); Ann Arbor and Grand Rapids, MI (Quimby Walstrom); Dallas, TX (Alto Papers) and Atlanta, GA (Bradner National). The closing is expected to take place on November 15, 2013.
"Bradner Central was founded in 1852 in Chicago and remains majority-owned by descendants of the founding families. We have known the owners and senior management of Bradner for many years and have the utmost respect for the quality of the Bradner organization and its people," said Ken Wallach, Chairman and Chief Executive Officer of CNG. "This transaction gives us a unique opportunity to strengthen our presence in the Midwest by combining the successful Bradner operations in Illinois and Wisconsin with our existing Lindenmeyr Munroe facilities in those states, and provides us with our first presence in the large Michigan market."
Andrew M. Wallach, CNG's President, commented, "The addition of Bradner to our Midwest network, which also includes Lindenmeyr Munroe's Minneapolis branch, gives us the ability to provide an unparalleled level of product and service to customers and suppliers in the region. This transaction, CNG's sixth acquisition of a U.S. paper merchant in the past four years, demonstrates once again CNG's commitment to growing its paper distribution business, both organically and through strategic acquisitions."
"I can think of no other company in the business whose philosophy so closely matches our own," said Rick Bull, Chairman and Chief Executive Officer of Bradner Central. "Lindenmeyr Munroe's dedication to servicing its customers and fair dealing with its suppliers is unmatched."
About Central National-Gottesman
Founded in 1886 and headquartered in Purchase, NY, Central National-Gottesman Inc. is a leading global marketer of pulp and paper. The company has 26 warehouse locations and 52 paper stores in the U.S. and 22 international sales offices. CNG operates through several divisions, including its U.S. Distribution Division, the largest independent U.S. paper merchant, comprised of Lindenmeyr, Spicers Paper, Inc. and Kelly Paper Company; and its Central National Division, a global provider of pulp, paper, packaging and tissue. CNG's sales exceed $4 billion annually. To learn more, please visit www.cng-inc.com.