Aug 06, 2012. /Lesprom Network/. PaperlinX has entered into an agreement to acquire the business and assets of Canterbury Packaging Limited, based in Christchurch, New Zealand. The acquisition is expected to be completed on 1 October 2012, as the company said in the press release received by Lesprom Network. Canterbury Packaging, a small distributor of industrial packaging consumables, hygiene, safety and hospitality products to customers predominantly in the Christchurch area, has annual revenues of A$ 2.9 million and is profitable. Canterbury Packaging will be combined with the existing Spicers business in New Zealand of A$95 million, and the purchase consideration of A$2 million will be funded from local credit facilities available within Spicers. Andy Preece, Executive General Manager ANZA Region commented: “The acquisition of Canterbury Packaging is a small but significant further step in our Diversified Products strategy. This acquisition will provide a building block for Spicers New Zealand to diversify and leverage our existing footprint and infrastructure to build a national business with the expertise from Canterbury Packaging. The additional packaging consumables will build on the existing strong market position of our profitable Spicers business in New Zealand.” PaperlinX is a leading international merchant of paper, communication materials and diversified products and services.