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.

Loveland, Ohio-based xpedx said that printers would not see any immediate changes, but the acquisition would enable both Central Lewmar and xpedx customers to continue to access a wide choice in supplies and services.

Central Lewmar’s management team is to remain in place and all Central Lewmar companies are to continue doing business under their existing names. xpedx and Central Lewmar provide printing and publishing papers from manufacturers across North America and worldwide.

Central Lewmar is on the ground in 14 locations in nine Northeast and Mid-Atlantic states and has more than 6,500 customers, primarily printers and publishers. It has more than 400,000 square feet of warehouse space. xpedx has more than 10 million square feet of warehouse space and more than 240 locations across North America. xpedx also has more than 60,000 customers across North America.