The Baupost Group, L.L.C., the hedge fund controlled by Seth Klarman acquired 2,249,601 shares or 14.06% stake in Veritiv Corporation (NYSE:VRTV) based on its latest 13G filing with the Securities and Exchange Commission (SEC).

Veritiv Corporation (NYSE:VRTV) is one of the leading business-to-business solutions companies in North America. It has 170 distribution centers and employs approximately 9,500 persons across North America. It provides end-to-end print, packaging, facility, and logistics solutions that help businesses operate more efficient and sustainable.

Veritiv Corporation
Veritiv Corporation

Veritiv was formed by xpedx-Unisource Worldwide merger

Veritiv Corporation (NYSE:VRTV) was formed by the merger of xpedx, the paper distribution business of International Paper Company (NYSE:IP) and Unisource Worldwide. Its business is now completely separated from International Paper Company (NYSE:IP).

Veritiv Corporation started its “regular way” trading at the New York Stock Exchange (NYSE) on July 2, 2014. The company issued 16 million shares, wherein 51% was distributed to the shareholders of International Paper Company (NYSE:IP) and the remaining 49% went to the sole stockholder of UWW Holdings, Inc., the parent company of Unisource Worldwide.

Projected 2014 revenue

Mary Laschinger is the chairman and CEO of Veritiv Corporation (NYSE:VRTV). According to her, the company is committed to delivering innovative products and excellent service to customers. The company is expected to generate around $9 billion to $10 billion in revenue for the full-year 2014. Veritiv is scheduled to report its second-quarter financial results on August 13

Baupost’s successful stockholding

Some of the most-successful stockholdings of Baupost Group include Idenix Pharmaceuticals Inc (NASDAQ:IDIX), RF Micro Devices, and Keryx Biopharmaceuticals (NASDAQ:KERX)

Over the past 12 months, Idenix went up more than 440%, RF Micro Devices climbed over 130% and Keryx gained more than 78%.

Baupost Group is one of the largest hedge funds worldwide with $27 billion assets under management. The hedge fund has a substantial investment in Spanish real estate and asset-backed securities and debt in periphery EU countries.

Last month, Baupost Group acquired 2.27% stake in Banco Espirito Santo SA (ELI:BES), the troubled second-largest lender in Portugal.