Esselte acquires Isaberg-Rapid

November 06, 2009

Stamford, Connecticut USA, November 6, 2009. Esselte announced today that it has reached a definitive agreement to acquire Isaberg Rapid, one of the world’s leading companies within the stapling business.

Isaberg Rapid, which has its headquarters in Hestra, Sweden, develops, manufactures and markets staplers, pliers, stapling tools, glue guns and electric insert staplers for leading manufacturers of copying machines and printers. The acquisition, which is expected to be completed in the first quarter of 2010, is subject to all applicable regulatory approvals and certain other closing conditions.

Isaberg Rapid is a strategic addition to Esselte’s branded office products business and an expansion for Esselte into the tools sector and professional retail markets. The acquisition is part of Esselte’s strategy to strengthen their core categories and expand their market and global reach. “This is an exciting milestone for our company, and we look forward to continuing our global expansion in office products and entering the tools marketplace” said Gary Brooks, Chief Executive Officer of Esselte. “We look forward to working with the Isaberg Rapid team and our customers in order to ensure a seamless transition into one progressive business.”

About Esselte:
The Esselte Group is one of the world’s premier manufacturers of organizational solutions. Esselte is a $1 billion office products company with subsidiaries in 31 countries and distribution in more than 120 countries. The company’s products are sold in Europe primarily under the Esselte® and Leitz® brands and in North America primarily under the Pendaflex®, Oxford® and Leitz® brands.