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R.R. Donnelley To Buy Office Products Company Esselte For $96.5M
R.R. Donnelley To Buy Office Products Company With U.S. HQ In StamfordBy MARA LEE, The Hartford Courant
R.R.Donnelley & Sons Co. has signed an agreement to buy a Stamford-based manufacturer of office and stationery products for a combination of cash and 1 million shares of Donnelley stock , with a total transaction value of $96.5 million.
Esselte, a company founded in Sweden 100 years ago, was subject to a $550 million leveraged buyout in 2002, and selling off parts of itself has helped it pay down the debt incurred by that takeover. This sale is for Esselte Americas, a division of the European firm.
Esselte recently acquired Ampad and is primarily known in the United States for Pendaflex filing products.
Donnelley's CEO said that the company expects to realize significant savings by combining manufacturing and distribution capabilities and that Esselte offers complementary products to the printing company.
Manta estimates that the Stamford headquarters has about 150 employees.
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