STOCKHOLM, July 12, 2019 /PRNewswire/ -- OptiGroup has today closed the sale of its German paper distribution business, Papyrus Deutschland GmbH & Co KG, to Investimentos, Participações e Gestão, S.A. (Inapa), which intends to combine the business with their German subsidiary, Papier Union GmbH. The transaction is in line with OptiGroup's strategy to diversify into areas with higher growth. The effective date of the transaction will be July 31, 2019.

OptiGroup's President and CEO, Sören Gaardboe comments:

"The sale of our German paper distribution business marks another concrete step in OptiGroup's strategy to strengthen and proactively develop the business portfolio. In recent years, we have made several strategic acquisitions in the areas of personal protection equipment, cleaning & hygiene and packaging. The capital released through the sale will be used to further develop our portfolio of businesses, and accelerate the transformation journey towards sectors with higher growth."

Business Area Head Printing & Creative Solutions, Niklas Järbur comments:

"The paper distribution market in Germany has been under severe pressure in recent years and it is necessary for traditional paper merchants to restructure and strengthen their platform and customer offering in order to compete successfully. We are convinced that the combination of Papier Union and Papyrus Deutschland will create a stronger platform for customers, suppliers and employees.

Our Papyrus businesses outside Germany are unaffected by this transaction and Papyrus will continue to be a leading paper distributor to the printing industry with strong market positions in Benelux, Nordics, Switzerland and Eastern Europe."

For further information, please contact:
Stefan Sikander
Corporate Communication Director
OptiGroup
Tel.+46-706-404684

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SOURCE OptiGroup