Inapa, the only company listed in the paper merchant sector in Europe, concluded the acquisition of the French operation of Papyrus, announced in September of this year, and divested of its operation in Switzerland.
Market trends in the paper distribution industry call for the need of consolidation. Inapa is having an active and leading role in such process with the transaction now announced in France and Switzerland. With the acquisition of Papyrus France, dedicated to the paper distribution for the graphic and office sector, Inapa reinforces its presence in the French market, which is currently one of the countries that most contributes to its turnover.
“This is a very important step in our strategy. France currently accounts for 25% of the Group’s turnover and, with this acquisition, it will represent approximately 35%, allowing the operation to strengthen its leadership position in the local market” states the CEO, Diogo Rezende.
Last year, in France, Papyrus had a turnover of 156 million euros and Inapa of 165 million euros. “The combination of these two companies will accelerate our Group’s growth strategy, enabling us to improve our level of efficiency and customer service, now that we will have a strong position in the efficiency scale. We are thrilled to welcome all employees, customers and suppliers of Papyrus France and excited with our future together”, explains Diogo Rezende.
At the same time, Inapa has decided to sell its operation in Switzerland (Inapa Schweiz) to Papyrus Group. “We believe that Papyrus’s growth strategy in Switzerland will provide a strong and stable future for both companies, benefiting customers, with a better service, and employees, with a stronger and sustainable business. I would like to convey our gratitude towards all employees and customers of Inapa Schweiz” adds Diogo Rezende. Inapa Switzerland in 2015 had a turnover of 52 million euros.
These transactions are part of Inapa Group’s strategic plan for 2016-18, allowing it to continue its strategy to improve paper business’ efficiency. With these transactions, Inapa expects to increase its turnover, strengthen its position in one of the largest European markets in France, and benefit from the efficiency of scale. They are also fully aligned with the strategic vector of improving the Group sustainability, as the transactions are done without additional debt.