26 January 2007 — High Wycombe (UK): OyezStraker Office Supplies has acquired Dudley Inkwell.
The new business will trade as Dudley Office Products, as a division of OyezStraker Office Supplies, and add more than £16 million ($31.3 million)to the group’s revenue, which is currently in excess of £185 million.
During the period in which OyezStraker has been negotiating the acquisition, Dudley’s trading has deteriorated, partially attributed to Dudley’s acquisition of Berry’s in 2005. The result, following legal advice, has been that OyezStraker’s acquisition could only be effected following Dudley being placed into administration.
The terms of the acquisition by OyezStraker should result in significant payments through the administrator, subject in part to the future performance of the business over the next 12 months.
OyezStraker says that it intends to "build on the strong operational base developed over several years, complimented by the excellent quality of the Dudley Inkwell staff".
Mark Sacofsky, Dudley’s existing managing director, will head Dudley Office Products reporting directly to Jeff Whiteway, the group CEO.
OyezStraker says that it "will ensure the smooth integration of the businesses and ensure Dudley customers obtain the very best of customer service".
Dudley Inkwell grew as a result of 35 acquisitions. This strategy was in the main successful and will continue to progress, backed by the financial strength of OyezStraker.