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10.07.2007, Acquisition of Map Merchant Group by Antalis

Sequana Capital announces the acquisition of Map Merchant Group by Antalis which becomes #1 in paper distribution in Europe.


Further to its strategic refocus on the paper market, Sequana Capital confirms its ambitions in this sector with the acquisition by Antalis – its fully-owned subsidiary – of Map Merchant Group, the   paper merchanting division of M-real.

 

Map ranks #4 in the European paper distribution market with turnover of Euro 1.4 billion in 2006 and 2,400 employees. Operating in 23 countries, the company is present in 3 business areas:

-          paper for printers, publishers and advertising agencies

-          office paper for industrial and services companies (banks, insurance, etc.)

-          specialty papers (papers, foam boards, plastics)

 

This acquisition, for a total consideration of Euro 382 million, creates the N°1 (#4 worldwide) in paper distribution in Europe with annual turnover of Euro 3.7 Billion, annual volume of 3 millions tonnes of paper, 8,400 employees and a presence in 44 countries, of which 30 are in Europe.

 

This acquisition, which is subject to the approval of Competition authorities, will enable Antalis:

 

-          to enlarge its presence in Europe thanks to the largely complementary footprint of both companies

-          to hold sound leadership positions in each country where it operates

-          to increase its turnover by 38% and its sales volumes by 46% and to improve its operational efficiency

-          and lastly to enrich its product range thereby offering an even more efficient service to its customers.

 

The combination of both companies will generate significant synergies in terms of supply chain optimisation, geography and product range complementarities.

 

This transaction takes place while Antalis operates in a more favourable environment, the improvement in market conditions recorded in the first quarter having been confirmed in the second quarter. It illustrates Sequana Capital’s intention, in future years, to actively manage its assets portfolio and its activities, which could involve acquisitions and disposals, in order to optimise the value creation for its shareholders.

 

Tiberto Ruy Brandolini d’Adda, Sequana Capital Chairman, and Pascal Lebard, Chief Executive Officer say « Through this acquisition, we confirm our ambitions in the paper sector. Our strategy is to support strongly our subsidiaries development so that they can reinforce their leading positions in all their businesses. This acquisition enables Antalis to become a real European leader and will allow it to accelerate its growth objectives as well as its profitability in the medium term ».

 

 

 

Pierre Darrot, Antalis C.E.O., says «Thanks to Map’s strong presence in Northern Europe (Scandinavia, UK, Netherlands), the Eastern European countries, Russia and the Ukraine, Antalis is strengthening its leadership position on the European market.  It is a major asset for our future expansion and it will help us to better serve our  customers. The creation of the new combined group is a major event in the industry which continues to consolidate, and is an essential step in our development. Â»

 

Sequana Capital was advised by Perella Weinberg Partners in relation to the transaction.


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