Two days after reporting a 24 percent fourth quarter profit drop despite increased sales, Workplace essentials supplier United Stationers will move forward with a new name and reportedly fewer employees, as the company announced on Wednesday plans to rebrand as Essedant.
United Stationers, along with its partner brands Azerty, LagasseSweet and ORS Nasco will reposition under the new single brand, which the company says will better capture its transformation and provide a platform for the future. Watch the company's video announcement here.
"We are very excited to announce the beginning of our journey to a new unified brand identity," said Cody Phipps, President and CEO, United Stationers. "Our industry is changing rapidly, and we must be proactive in positioning our company for future success. Our current brands, while leaders in their respective industries, do not truly capture the strength we have as one team with one goal. Our strategy is based on a broader definition for our company and along with the new brand, provides a clear vision: To supply the essentials that unlock the potential of our partners and those they serve."
"The name United Stationers no longer captures the breadth of products and solutions we provide," said Diane Hund, vice president, marketing, United Stationers. "The name Essendant, a combination of 'essentials' and 'ascending,' better reflects our goal to be the fastest and most convenient solution for workplace essentials."
The new company name is set to become effective in June 2015, pending shareholder approval.
On Monday, United Stationers announced restructuring plans that include taking a $9 million charge to exit certain business and layoff an undisclosed number of employees. It also reported its 2014 fourth quarter and full year financial information.