AURELIUS subsidiary Office Depot Europe to sell its Central and Eastern European (CEE) business to strategic buyer PBS Holding
- Successful transformation of the business in Central and Eastern Europe (CEE) led to a strong market position
- Strategic buyer PBS Group to further strengthen CEEs position
- Sale of CEE business as part of ongoing transformation of Office Depot Europe
Munich/Venlo, September 26, 2019 – Office Depot Europe, a portfolio company of AURELIUS Equity Opportunities SE & Co. KGaA (ISIN: DE000A0JK2A8) has agreed to sell its Czech and Slovak subsidiaries to strategic buyer PBS Holding AG. PBS Group is a leading reseller of office supplies, paper and stationery headquartered in Wels/Austria. PBS Group are serving its customers in Austria, Germany, Poland, Hungary, Italy, Slovenia, the Czech Republic and Slovak Republic. The transaction is subject to the approval of the relevant antitrust authorities and is expected to close in due course.
Successful strategic transformation of the business in Central and Eastern Europe (CEE) led to a strong market position
Following its acquisition by AURELIUS in January 2017, Office Depot Europe was subject to a comprehensive transformation programme. Consequently, the CEE business saw the product and service offering being extended into adjacent areas such as office furniture, PPE (personal protective equipment), managed-printing services as well as cleaning & hygiene products. The CEE business has a particular focus on servicing larger contract business customers (SME organisations, public sector as well as local operations of international corporations). Over the last two and a half years Office Depot Europe´s CEE business managed to grow organically and increased its market share. This has resulted in the company reaching a strong position in its relevant markets.
Strategic buyer PBS to further strengthen CEEs position
Office Depot Europe and PBS Group have a strong relationship and will collaborate in serving international corporations across the Czech Republic and Slovak Republic. This strategic acquisition allows PBS Group to strengthen its market position in the relevant markets.
Sale of CEE business as part of ongoing transformation of Office Depot Europe
Office Depot Europe has made major progress in enhancing the efficiency thanks to process optimisations and system enhancements. Significant investments and organisational changes with respect to the Group’s e-commerce capabilities are being rewarded with favourable development of the online business. In this respect, a customer-centric strategy also entails further actions to extent the assortment. The divestment of the CEE business will be accompanied by the group further focusing its resources continuing the existing path in a dynamic market environment.
About PBS Holding AG
PBS Holding AG is a leading reseller and distributor of office supplies, paper and stationery headquartered in Wels/Austria. PBS Group are serving its customers in Austria, Germany, Poland, Hungary, Italy, Slovenia, the Czech Republic and Slovak Republic. More than 1,000 employees generate annual revenues of EUR 280 million.