John Zhang • 18 Comments
Mon, Mar. 21, 6:03 PM
- ACCO Brands is buying the 50% of its Pelikan Artline JV that it doesn't own for $103M in cash. (Press Release)
- ACCO estimates (based on 2015 results) Pelikan will contribute $112M in annual sales and $17M in adjusted EBITDA. $0.06 of EPS accretion is expected over the first 12 months, and $8M/year in synergies are targeted. Integration and restructuring expenses are expected to total $15M.
- The deal is expected to close in the next 60 days. Pelikan will be combined with ACCO's existing Australia/New Zealand ops. CEO Boris Elisman: "We are very pleased that we will be able to combine our complementary businesses to create the largest supplier of premier branded business, academic and consumer products in Australia and New Zealand."
Nov. 17, 2011, 9:04 AM
ACCO Brands (ABD) will merge with MeadWestvaco's (MWV) consumer and office products business in a transaction valued at ~$860M. MWV shareholders will own 50.5% of the combined company. ACCO says the combination will increase its annual revenues by more than 50% and should immediately be accretive to its EPS. ABD +22.1%, MWV +1.2% premarket.| Nov. 17, 2011, 9:04 AM