Orara Ltd. Agrees to Sell Its Buena Park-based Orora Packaging Solutions Division to Atlanta-based Veritiv Corp. for $1.2 Billion

Orara Ltd. agreed to a deal with Atlanta-based Veritiv Corp. to sell its Buena Park-based Orora Packaging Solutions division for an enterprise value of $1.2 billion on Sept. 3. The transaction is subject to regulatory approvals and is expected to close in the fourth quarter of 2024. Orora Packaging Solutions operates the company’s North American packaging and distribution division.

“The addition of OPS to Veritiv’s packaging distribution platform will provide an even more compelling customer offering and significant value creation potential,” said Kelly Barlow, president of Orora Packaging Solutions, in a statement.

In November, Veritiv was acquired by private equity company Clayton, Dubilier & Rice in a $2.3-billion deal. It has since made two other notable acquisitions, including Texas-based Ameripac in April and Vivabox Solutions in February.

Australia-based Orora plans to pay down debt and invest in the production of beverage packaging with the proceeds.