News Release
Acquisition of Shares in EFP-Chavassieu in France
Japan Pulp & Paper Co., Ltd. (Head Office: Tokyo, Japan; Representative Director President & CEO: Akihiko Watanabe; hereinafter “the Company”) hereby announces that Gould Paper Corporation (Head Office: New York, USA; Managing Director: Michael Trachtenberg; hereinafter “Gould”), a consolidated subsidiary of the Company, has acquired shares in EFP-Chavassieu (Head Office: Paris, France; hereinafter “EFP”), a paper, paperboard and non-woven fabric distributor in France, through its OVOL Holdings France.
1. Background and Purpose
One of the policies of the Non-Japan Wholesaling segment in Medium-term Business Plan 2023 is to strengthen the sales structure by incorporating complementary M&A into the existing global network, and this acquisition of shares is in line with that policy.
The details are as follows.
2. Overview of the Transferor of Shares
| Name | EFP-Chavassieu |
|---|---|
| Head Office Location | Neuilly-Sur-Seine, France (in the suburbs of Paris) |
| Representative | Michael Kihlgren |
| Business Outline | Sale of paper, paperboard and non-woven fabric |
3. Overview of the Acquirer of Shares
| Name | Gould Paper Corporation |
|---|---|
| Head Office Location | New York, USA |
| Representative | Michael Trachtenberg |
| Business Outline | Wholesale of paper and paperboard |
EFP handles printing, communication, packaging and industrial paper mainly in the French market. With this acquisition of shares, the OVOL Japan Pulp & Paper Group will organically leverage EFP’s strong relationships with European suppliers and the OVOL Japan Pulp & Paper Group network, including Gould Papiers France (Head Office: Paris, France) and Japan Pulp & Paper GmbH (Head Office: Düsseldorf, Germany), to expand and diversify its business in the European market.
For inquiries regarding this matter, please contact:
The Japan Pulp & Paper Co., Ltd. Public Relations Office on +81-3-5548-4026
