Thomson Geer acted for Australian office supplies company Complete Office Supplies on its acquisition of the Australian division of French-headquartered global office supplies company, Lyreco.
The Thomson Geer team working on this transaction was led by Partner, Marc Wyld and Senior Associate, Jenny Altherr.
Complete Office Supplies, a privately-owned Australian business, is the second largest B2B office supplier in Australia. The acquisition of Lyreco Australia, which has annual revenue of $70 million, is significant for Complete Office Supplies in the context of its current annual revenue of $145m. It also represents continued consolidation in the industry, following the recent acquisitions of Staples and Officemax by US private equity firm Platinum Equity to form the largest B2B office supplier in Australia, Winc.
As part of the transaction, Complete Office Supplies has become a strategic partner of Lyreco to service its International customers in Australia.
Complete Office Supplies chief executive Dominique Lyone said the merged business would have better buying power, and be able to invest in technology which was crucial in operating hi-tech distribution centres.