Remaining 50% Acquired

The Australia-based office products provider Pelikan Artline Pty Limited will be incorporated into ACCO Brands Corporation’s existing businesses in Australia and New Zealand.

The US-based office products manufacturer ACCO has acquired the remaining 50% of Pelikan Artline Pty Limited shares for about US$103 million.

Boris Elisman, president and chief executive officer, ACCO Brands, said, “We are very pleased that we will be able to combine our complementary businesses to create the largest supplier of premier branded business, academic and consumer products in Australia and New Zealand. The new ACCO Brands Australia will provide us a strong foundation for long-term growth while deepening our customer relationships and improving our competitiveness in the region.”

ACCO Brands expects that the acquisition will be immediately accretive to its adjusted earnings per share, contributing an estimated US$0.06 in the first twelve months. The transaction is expected to be consummated in the next 60 days, subject to customary closing conditions.

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