Exhibit 99.1
| news release |
Executive Offices | | For Further Information Contact: |
One Parkway North Blvd. | | |
Suite 100 | | |
Deerfield, IL 60015-2559 | | Richard W. Gochnauer |
| | President and Chief Executive Officer |
| | or |
| | Victoria J. Reich |
| | Sr. Vice President and Chief Financial Officer |
| | United Stationers Inc. |
| | (847) 627-7000 |
UNITED STATIONERS ACQUIRES MBS DEV, INC.
DEERFIELD, Ill., March 1, 2010 — United Stationers Inc. (NASDAQ: USTR), a leading North American wholesale distributor of business products, today announced its wholly owned subsidiary, United Stationers Supply Co., has acquired all of the outstanding capital stock of MBS Dev, Inc.
MBS Dev is a leading software solutions provider to business products resellers. Its software solutions enable resellers to efficiently manage their businesses and offer robust e-commerce services. The purchase price of $15 million, and an additional $3 million earn-out based on achieving certain financial goals will be funded under United’s existing credit agreement. The Denver, Colorado-based company is expected to add approximately $10 million to sales and modest EPS accretion in 2010.
“Enabling our customers and suppliers to leverage the power of the Internet to drive profitable growth remains a core strategy for United Stationers,” commented Richard W. Gochnauer, president and chief executive officer. “We made a number of advances in our on-line merchandising and marketing capabilities in 2009, and expect to further accelerate those efforts with the recent acquisition of MBS Dev.”
Forward-Looking Statements
This news release contains forward-looking statements, including references to goals, plans, strategies, objectives, projected costs or savings, anticipated future performance, results or events and other statements that are not strictly historical in nature. These statements are based on management’s current expectations, forecasts and assumptions. This means they involve a number of risks and uncertainties that could cause actual results to differ materially from those expressed or implied here. These risks and uncertainties include, but are not limited to the following: United’s ability to effectively manage its operations and to implement general cost-reduction and margin-enhancement initiatives; United’s reliance on key customers, and the business, credit and other risks inherent in continuing or increased customer concentration; United’s reliance on independent dealers for a significant percentage of its net sales and therefore the importance of the continued independence, viability and success of these dealers; continuing or increasing competitive activity and pricing pressures within existing or expanded product categories, including competition from product manufacturers who sell directly to United’s customers; prevailing economic conditions and changes affecting the business products industry and the general economy; United’s reliance on key suppliers; the impact of variability in supplier pricing, allowance programs, promotional incentives and other terms, conditions and policies; the impact of variability in customer and end-user demand patterns on United’s product offerings and sales mix and, in turn, on customer rebates payable and supplier allowances earned by United; United’s ability to maintain its existing information technology systems and to successfully procure and implement new systems without business disruption or other unanticipated difficulties or costs; United’s ability to effectively identify, consummate and integrate acquisitions; United’s reliance on key management personnel, both in day-to-day operations and in execution of new business initiatives; and the effects of hurricanes, acts of terrorism and other natural or man-made disruptions. It is not possible to anticipate or foresee all risks and uncertainties, and investors should not consider any list of risks and uncertainties to be exhaustive or complete.
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Shareholders, potential investors and other readers are urged to consider these risks and uncertainties in evaluating forward-looking statements and are cautioned not to place undue reliance on the forward-looking statements. For additional information about risks and uncertainties that could materially affect United’s results, please see the company’s Securities and Exchange Commission filings. The forward-looking information in this news release is made as of this date only, and the company does not undertake to update any forward-looking statement. Investors are advised to consult any further disclosure by United regarding the matters discussed in this release in its filings with the Securities and Exchange Commission and in other written statements it makes from time to time.
Company Overview
United Stationers Inc. is a leading wholesale distributor of business products, with 2009 net sales of approximately $4.7 billion. The company stocks approximately 100,000 items, including technology products, traditional office products, janitorial and breakroom supplies, office furniture, and industrial supplies. A network of 64 distribution centers allows it to deliver these products to over 25,000 reseller customers. This network, combined with United’s depth and breadth of inventory, enables the company to ship most products overnight to more than 90% of the population of the U.S. and major cities in Mexico. For more information, visit www.unitedstationers.com.
United Stationers’ common stock trades on the NASDAQ Global Select Market under the symbol USTR.
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