Central National Gottesman Inc. (CNG) has signed a definitive purchase agreement to acquire S.P. Richards (SPR), an independent business products wholesaler based in Atlanta, Georgia. The closing is expected to take place on January 31, 2023.
SPR operates from a network of 30 full-stocking distribution centers strategically positioned across the U.S. to support more than 8,000 resellers.
CNG Senior Vice President Bill Meany will become President of SPR, assuming the leadership role in addition to his current responsibilities at CNG.
SPR Executive Chairman Yancey Jones and President and CEO Mike Maggio will continue with the organization in leadership advisory roles.
The organization will continue to operate as S.P. Richards and anticipates minimal operational changes to the business beyond ongoing investment in updated logistics, technology, additional inventory, and warehousing systems to support the company’s long-term growth strategy.
Central National Gottesman Inc. is a $9 billion global sales, marketing, and distribution leader in the pulp, paper, tissue, packaging, wood products, and metals industries.
