Buhrmann, parent company of Corporate Express, has signed an agreement to acquire Ofiexpress, a Madrid-based group of OP distributors.
Ofiexpress, which employs 90 people, boasted sales of €13 million ($15.7 million) in 2005, a 20 per cent increase the previous year..
Peter Ventress, president of Buhrmann’s European OP division, said: "This acquisition will give us full access to the Spanish office products market and presents an excellent opportunity to strengthen our service offering to international customers on a pan-European scale. The fragmented nature of the Spanish market for office products offers us good potential for growth."
Active in both Spain and Portugal, Ofiexpress focuses on the contract business, with large accounts making up approximately 80 per cent of sales and the remaining 20 per cent represented by mid-sized customers targeted by mail order.
Both companies expect to finalise the deal by Q4 of 2006.