Esselte announced today that it has reached a definitive agreement to
acquire Isaberg Rapid, one of the world’s leading companies within the
stapling business.
Isaberg Rapid, which has its headquarters in Hestra, Sweden, develops,
manufactures and markets staplers, pliers, stapling tools, glue guns and
electric insert staplers for leading manufacturers of copying machines
and printers. The acquisition, which is expected to be completed in the
first quarter of 2010, is subject to all applicable regulatory approvals
and certain other closing conditions.
Isaberg Rapid is a strategic addition to Esselte’s branded office
products business and an expansion for Esselte into the tools sector and
professional retail markets. The acquisition is part of Esselte’s
strategy to strengthen their core categories and expand their market and
global reach. “This is an exciting milestone for our company, and we
look forward to continuing our global expansion in office products and
entering the tools marketplace” said Gary Brooks, Chief Executive
Officer of Esselte. “We look forward to working with the Isaberg Rapid
team and our customers in order to ensure a seamless transition into one
progressive business.”
About Esselte:
The Esselte Group is one of the world’s premier
manufacturers of organizational solutions. Esselte is a $1 billion
office products company with subsidiaries in 31 countries and
distribution in more than 120 countries. The company’s products are sold
in Europe primarily under the Esselte® and Leitz® brands and in North
America primarily under the Pendaflex®, Oxford® and Leitz® brands.
