OptiGroup and Inapa - Investimentos, Participações e Gestão, S.A. - have signed an agreement to combine their respective paper distribution operations in Germany, Papyrus Deutschland GmbH & Co KG and Papier Union GmbH, as the company says in the press release received by Lesprom Network.
As part of the transaction, OptiGroup has signed a binding agreement, subject only to competition clearance by the German Federal Cartel Office (Bundeskartellamt), to sell its German paper distribution business, Papyrus Deutschland GmbH & KG, to Inapa who intend to combine the business with their German subsidiary, Papier Union GmbH. The transaction is expected to be finalised in December 2018, subject to customary approval by the German Federal Cartel Office.
OptiGroup's President and CEO, Christoph Sander comments: "The paper merchanting market in Germany has been under severe pressure in recent years from a combination of reducing demand, significant price increases from manufacturers and the entry of new competitors. Consequently, it is necessary for traditional paper merchants to restructure and strengthen their platform and customer offering in order to compete successfully in future.”
