Pascal Lebar, CEO of Sequana and Antalis, sees this further step towards consolidation in the sector as an opportunity for the company to acquire a critical size in this segment and thereby double its sales volume and revenue.
After receiving the approval of the European competition authorities and both Xerox and Antalis having completed the relevant employee consultation processes, Antalis has signed the contract to acquire Xerox's office paper distribution business in Western Europe. The transaction is expected to close at the end of October.
Xerox's Western European office paper distribution business represents around €300m in annual sales. Antalis said that the transaction will help it strengthen its position in this segment and give it an exclusive license to market and distribute Xerox branded paper and digital print media in Western Europe. The acquisition is expected to boost Antalis' earnings as from 2014.