Central National Gottesman’s (CNG) Lindenmeyr Munroe paper distribution division has agreed to acquire Independent Paper Group (IPG), which is based in St. Paul, Minnesota, US.
Financial details of the transaction, which is expected to close by the middle of this month, have not been disclosed.
Lindenmeyr Munroe is claimed to be the largest privately held independent paper merchant in the US. It distributes commercial printing papers, business and communications papers and packaging products.
The deal allows CNG's division to further expand its sales and distribution presence in Minnesota.
IPG, which is a division of Elmhurst, Illinois-based Murnane Paper Company, manufactures a range of paper products for commercial printers including digital, wide format and business imaging products.
CNG president and CEO Andrew Wallach said: "We believe we will continue to have many opportunities for Lindenmeyr Munroe to expand in the Midwest, both through organic growth and via acquisition.
"We look forward to working with our new colleagues from IPG to help strengthen our position in the region."
Lindenmeyr Munroe president Bill Meany said: "Supporting commercial printers in Minnesota is very important to us.
"Adding IPG aligns perfectly with our investment last year in a state-of-the art paper distribution and converting facility in Fridley to better serve our customers."
Earlier this year, Lindenmeyr acquired KFI Technology, a company specialising in wide format printing. The New Jersey-based company is known as the source for ‘Everything Wide Format’ and serves one of the fastest growing market segments with equipment and supplies for wide format printing, sign & display, exhibit/trade show graphics and reprographic services.
Lindenmeyr said that the KFI’s acquisition will enhance its position in the wide format printing in the future.
