GBP19m Deal Forms Largest Independent Paper Group
The deal to acquire Premier Paper by the Beswick Paper Group has been completed ahead of schedule at a price of GBP19.1 million in a largely asset-based deal.
According to Beswick Paper, its integration with Premier will create the largest independent paper merchant group in the UK, with a combined annual turnover approaching GBP200 million The deal has been approved and supported by the European Commission
The acquisition follows the Antalis purchase of the Map Merchant Group in October last year, where Antalis had committed to the European Commission a divestment of one of the Map Merchant UK subsidiaries - Premier Paper.
The company said that two operations are seen as entirely complementary to each other, with the combination being described as a natural fit.
In addition the fact that most of Premier's management team will be part of the new combined operations is seen as a major benefit.
Whilst Beswick added that it has local stock holding branches across the UK, Premier has regional sales centres and specialist divisions, adding strength in the direct sales of sheets and reels and specialist products.
Beswick said it believes that the response to the acquisition has generally been very positive from the paper industry as a whole and particularly printer customers because a strong independent merchant sector is vital to maintaining a healthy and competitive market.
Source: www.printingtalk.com
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