In two transactions, PaperlinX will purchase Antalis Italian paper merchanting business, Antalis S.p.A, while Antalis will purchase PaperlinX paper merchanting business, Axelium, in France.
PaperlinX managing director, Tom Park says the transactions will strengthen their position in Italy, improve the company’s in-market scale, and allow PaperlinX to exit France “where we have not enjoyed sufficient scale to compete at the level we would like.”
“PaperlinX is following one of its core operating principles of strengthening and building off of our existing business platforms. These transactions will allow both companies to focus on areas where they have greater competitive advantage,” he says.
“The decision to sell our business in France has not been an easy one given the dedication of our employees in that country and their efforts made to turn this business around.”
The final purchase and selling prices have yet to be agreed and are subject to closing adjustments.
The transactions are also subject to various approvals, including final board approvals of both companies. It is expected that these transactions will conclude, within three to four months, with both businesses operating as usual during this period.
