$53m French buyout of local finishing firm

Expanding operations of its new regional headquarters in Singapore, French mailing supplier Neopost has scooped up GBC Australia for AU$53 million.

With mail volumes globally not growing at the rate Neopost would like, it went looking to expand into adjacent categories and since GBC Australia has been distributing Neopost products for over 20 years, the two already have a very close relationship.

Stuart Macdonald, managing director of GBC Australia says Neopost will not be changing the management or staff at GBC Australia and it will continue to trade as GBC. “Neopost intend to make further investments in their new Australian business and are keen to expand the print finishing side of the business as aggressively as the mailing side of the business.”

“The acquisition of GBC Australia gave them access to the print finishing market in the APAC region. Print finishing is a category that Neopost are already familiar with after their recent purchase of several Scandinavian dealers, all of whom sold print finishing products (Denmark, Sweden and Norway).”

According to Neopost, once GBC Australia has been fully integrated it is expecting the acquisition to bring in additional sales of around €20m (AU$27) in 2011.

Denis Thiery, CEO of Neopost says through the acquisition of GBC Australia and the setting up of our regional headquarters, “we are taking two important steps in the development of our sales in a fast growing and promising region.

“Whilst giving us access to new product ranges that complement our existing offer, the acquisition of GBC will also bring to Australian customers an easier access to Neopost innovative solutions and enhanced services in the mailing business.”

Neopost’s regional headquarters in Singapore will also oversee its existing operations in Japan and India, as well as its network of distributors in other Asia-Pacific countries.