IP to Buy Central Lewmar

International Paper has agreed to acquire Central Lewmar LLC, one of the largest privately held U.S. paper and packaging distributors, from Philadelphia-based private equity firm Chrysalis Capital Partners for approximately $185 million.

International Paper’s distribution business, xpedx, will operate Central Lewmar as a business unit within its multiple brand strategy. xpedx is one of North America’s largest business-to-business distributors.