Benchmark International is pleased to announce the acquisition of Wicklow-based Paramount Packaging by Mediahuis Ireland, through its Reach Group subsidiary.
Paramount Packaging was established in 1997 and is an industry leading importer, distributor and supplier of premium flexible plastic, paper and environmentally friendly packaging and solutions to the pharmaceutical, retail, food services, merchant, and industrial industries.
Reach Group is a logistics and supply chain specialist, operating in a variety of sectors across multiple channels including grocery retail, hotels, cafes, delicatessens, schools, hospitals, medical centres, pharmacies, libraries and more.
The company comprises a number of business units, including Reach-Delpac, a supplier of catering disposables, food-to-go packaging, hygiene products and luxury retail packaging. It also has Reach Stationery, a stationery wholesale operation with brands that include Supreme Stationery and Newspread, the national distribution organisation for newspapers and magazines in Ireland.
Mediahuis Ireland is a Belgian/Dutch-owned media organisation that is based in Dublin and publishes national daily newspapers, Sunday newspapers, regional newspapers and operates multiple websites including Independent.ie.
A statement from the publishing group, which owns the Irish Independent and the Sunday Independent, said that the acquisition is in line with Mediahuis' strategy to support its news wholesale business and “thereby protecting a route to market for its print publishing titles”.
James Kavanagh, CEO of Paramount, commented: "We're delighted to have joined forces with Reach as it gives us access to their wide customer base and extensive distribution network which will add great value to the Paramount business.
“I look forward to working closely with the team at Reach to ensure a smooth transition of the business and to helping Paramount customers avail of the greater range of products we can now offer through Reach.”
Peter Vandermeersch, CEO of Mediahuis Ireland, said: "This acquisition is evidence of our continued commitment to diversifying our wholesale division, to support the distribution of our print products to the widest possible audience for the longest possible time.
“By combining Reach's extensive logistics infrastructure and customer base with Paramount's excellent track record in design, sourcing and delivery of packaging products, we're confident we can capitalise on potential synergies between the organisations and generate significant additional resources to prolong the lifespan of our market-leading print publishing titles.”
Europe: Michael Lawrie at +44 (0) 161 359 4400 / Lawrie@BenchmarkIntl.com
Americas: Sam Smoot at +1 (813) 898 2350 / Smoot@BenchmarkIntl.com
Africa: Anthony McCardle at +27 21 300 2055 / McCardle@BenchmarkIntl.com
ABOUT BENCHMARK INTERNATIONAL:
Benchmark International is a global M&A firm that provides business owners with creative, value-maximizing solutions for growing and exiting their businesses. Benchmark International has handled over $10 billion in transaction value across various industries from offices across the world. With decades of M&A experience, Benchmark International’s transaction teams have assisted business owners with achieving their objectives and ensuring the continued growth of their businesses. The firm has also been named the Investment Banking Firm of the Year by The M&A Advisor and the Global M&A Network as well as the #1 Sell-side Exclusive M&A Advisor in the World by Pitchbook’s Global League Tables.