New Zealand paper merchant BJ Ball -- itself swallowed up last month by private equity company Maui Capital -- has taken over Australian rival Focus Paper, according to Focus director, Darell Price.The Australian merchant would retain much of its autonomy
New Zealand paper merchant BJ Ball -- itself swallowed up last month by private equity company Maui Capital -- has taken over Australian rival Focus Paper, according to Focus director, Darell Price.
The Australian merchant would retain much of its autonomy without changes to the company's name, workforce or operations, he told ProPrint magazine.
All current directors of Focus would have a financial stake in the new company: "They made an offer that we've taken where we're still able to keep some ownership," he said.
The deal involves New Zealand-based Maui, BJ Ball and Australian-based paper agency Kirby Paper, a wholly-owned subsidiary of BJ Ball, which is now 80 percent owned by Maui, with the remaining 20 percent owned by BJ Ball executives.
BJ Ball is the largest paper merchant in New Zealand with annual sales over $300 million, and includes BJ Ball Papers, New Zealand's oldest paper merchant, Kirby Papers, Reel Papers, and Typecut Graphics.
