J.W. Childs Exits Esselte
We are pleased to announce that we have entered into an agreement to sell Esselte to ACCO Brands for €297 million. The closing of the transaction is expected in early 2017.
J.W. Childs acquired Esselte, a leading office products company, in a public to private transaction. During the initial period of our ownership, the Dymo labeling business achieved significant growth that led to the sale of the product line for a value in excess of the original purchase price for Esselte. The company also used the Lean process to increase inventory turns, improve revenue per employee and grow both EBITDA and gross margins.
We enjoyed our partnership with Esselte management and wish the team continued success with their business.