ACCO Brands Corporation yesterday announced that they have reached an agreement to acquire Esselte Group Holdings AB, a leading European office products company. The agreement was from private equity firm JW Childs for $333-million in cash. ACCO said it will combine Esselte with its existing European operations creating a $600 million pan-European business – almost triple the company’s current business in the region.
Like ACCO Brands, Esselte is a company whose branded products are recognised around the world for their quality, innovation and reliability, and whose people are respected as among the best in the industry.
In a letter sent out to customers, Neil McLachlan, President, ACCO Brands Europe, and Mark Wilkinson, Vice President, Sales, ACCO Brands Europe,
“Once the transaction is completed, in the coming months, we look forward to demonstrating to you our renewed dedication to customer relevance, product innovation and category management expertise across Europe.
During this period through completion, you and your success will remain our primary goal. We will remain committed to providing you with the exceptional products and service you’ve come to expect from ACCO Brands, and you should see no changes in your day-to-day interactions with us.
“We will keep you informed throughout the process and communicate any new information as it becomes available. Please feel free to reach out to either one of us, your Account Manager or our customer service team with any questions.”