R.R. Donnelley & Sons Company and Esselte jointly announced that they have signed a definitive agreement by which RR Donnelley will acquire substantially all of the North American operations of Esselte, a privately owned developer and manufacturer of nationally branded and private label office and stationery products.
Its well-known brands include Ampad writing and envelope products, Boorum & Pease premium bound books, Oxford index cards and Pendaflex document organization and storage products. The acquisition will create a more competitive and efficient office products supplier capable of supplying enhanced offerings across the customer base. The purchase price includes a combination of cash and up to 1 million shares of RR Donnelley common stock, resulting in a total transaction value of $96.5 million.
"Esselte is an excellent fit with RR Donnelley's office products business as their well regarded brands complement our popular TOPS, Adams, Cardinal and Globe-Weis brands," said Thomas J. Quinlan III, RR Donnelley's president and CEO. "We expect to realize significant savings by combining our best practices, complementary products, and manufacturing and distribution capabilities, and we look forward to taking the expanded line of products and respected brands to our combined customer base of retailers, wholesalers, contract stationers and dealers."