GNS Wholesale Stationers today announced it has signed an agreement to acquire the operations of WA Stationery Wholesalers (“WAS”) from its owner, Rik Thornton. Founded in 1985, WAS is a Perth-based wholesaler of stationery and office products focussed on the commercial enterprise market.
As part of the agreement, effective 1st February 2017, GNS will combine its WA-based operations with those of WAS. The enlarged business will be WA’s largest stationery and office products wholesaler with over 1,000 customers and pro-forma annual revenues of over A$15 million.
Working closely with the current management of WAS, GNS intends to combine the best of the two businesses to deliver a stronger product and service offering to customers, build business scale and generate cost efficiencies.
Paul Yardley, CEO of GNS Wholesale, said, “I’m excited to announce the acquisition of WAS, combining the strength of GNS’ position in the newsagency channel with WAS’ commercial focus and service level. We intend to keep the best elements of both businesses as we work through the combination. Rationalisation is needed within our industry and GNS intends to play a part in this, building a national wholesaler with customers and suppliers benefitting from efficiencies.”
Rik Thornton, owner of WA Stationery Wholesalers, said, “This merger guarantees the future strength and reliability of the supply chain in the stationery and office products market in Western Australia. In selecting GNS as our partner, I am pleased that our longstanding business is passing into capable hands. The WAS management team and staff will play an ongoing role, ensuring the transition is seamless and that all the benefits of dealing with WAS are maintained.”
Terms of the acquisition are confidential and have not been disclosed. The acquisition is expected to take effect on or around 1st February 2017 and will be funded from GNS’ existing cash resources.
For more information, please visit gnswholesale.com.au or wastationery.com.au for details.
CEO | GNS Wholesale
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