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Movement in stationery industry

Movement in stationery industry

Craig Andrade

An international investment firm has been advised on the acquisition of an Australian and New Zealand office supplies business.

Firms: Baker McKenzie, Bell Gully and Greenwoods & Herbert Smith Freehills (Platinum Equity)

Deal: Platinum Equity moved to acquire OfficeMax from Office Depot.

Value: Undisclosed

Area: M&A

Key players: Baker McKenzie partner and head of equity capital markets Craig Andrade (pictured) led the Bakers team advising Platinum Equity.

Deal significance: Platinum Equity is a US-headquartered investment firm specialising in mergers and acquisitions. Its acquisition of OfficeMax’s Australian and New Zealand business will make it the biggest player in the Australian business-to-business office supplies market, according to Fairfax.

The transaction is expected to close next month, subject to regulatory approval in Australia and New Zealand.

“We were delighted to act for our longstanding client Platinum Equity in an immediate follow-on acquisition of the OfficeMax business in Australia and New Zealand, in what was a highly competitive process,” said Baker McKenzie partner Craig Andrade.

Bakers advised Platinum on its acquisition of Staples Australia and New Zealand in March this year. The firm also helped Platinum Equity enter the Australian market in 2014 through the acquisition of a 70 per cent stake in Sensis.

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