Commercial packaging company Veritiv Operating is facing a lawsuit from Canadian industrial supply company Imperial Dade Canada alleging Veritiv is violating the non-compete terms of a $190 million agreement between the companies.
Imperial filed a complaint against Atlanta-based Veritiv in the Delaware Court of Chancery on Tuesday.
When Imperial acquired Veritiv Canada in 2022 for $190 million, Veritiv agreed it wouldn’t compete in the distribution of packaging, printing, and facility supply products anywhere in Canada for five years, and neither would its affiliates, beginning in May 2022, the complaint says.
But earlier this year Imperial discovered Veritiv and its subsidiary, ...
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