Seeking Alpha

ACCO Brands acquires Industria Grafica Foroni Ltda.

|About: ACCO Brands Corporation (ACCO)|By:, SA News Editor

ACCO Brands Corporation (NYSE:ACCO) has acquired Industria Grafica Foroni Ltda. for ~$57M.

The estimated full-year incremental sales contribution to the company would be ~$60M, and the transaction is expected to result in modest adjusted earnings per share accretion and incremental adjusted EBITDA of $10M on an annualized basis.

ACCO Brands funded the acquisition with cash and debt.

For 2019, Foroni is expected to add $35M in sales and $0.01 to adjusted EPS to ACCO Brands, and leaves its full-year free cash flow outlook unchanged.

Boris Elisman, Chairman, President and Chief Executive Officer of ACCO Brands said,  "This acquisition is consistent with our strategy to expand in faster growing geographies and product categories, add consumer-centric brands and diversify our customer base."

Subscribe for full text news in your inbox