RAJA Group signs agreement with Aurelius to acquire Viking and Office Depot Europe’s consolidated operations in 7 countries

RAJA Group, Europe’s leading multi-channel mail order business equipment and supplies company, today announced that it has reached an agreement with Aurelius Investment Group to acquire the Viking business, including the remaining Office Depot Europe portfolio, in seven European countries: United Kingdom, Ireland, Germany, Switzerland, Austria, Netherlands and Belgium. Viking, the flagship brand of Office Depot Europe’s e-commerce activities, is a major player in the BtoB distribution of office supplies and furniture. All of the company’s operations in Europe employ 1,500 people and generate sales of nearly €500 million. The financial terms of the agreement will not be made public.

RAJA Group accelerates its development strategy in Europe

RAJA Group is Europe’s leading packaging retailer with 3,000 employees in 18 European countries and a major player in the office supplies and furniture market following the acquisition of the Staples business in Southern Europe in 2019: JPG, Mondoffice and Kalamazoo, French, Italian and Spanish workplace equipment specialists. This acquisition is in line with the RAJA Group’s strategy to increase sales, expand its customer base and diversify its offering. It enables the Group to strengthen its positions and complete its geographic coverage in these strategic markets.

This acquisition represents a major strategic opportunity to strengthen our positions in Europe, particularly in these seven countries where we are already present with our RAJA subsidiaries. It will further expand the Group's presence and give new impetus to our ambitions in the office supplies market. This acquisition fits perfectly with our strategic vision to be a global partner for European companies, from small start-ups to large corporations, and will strengthen our partnership with globally recognised brandsDanièle KAPEL-MARCOVICI

Viking is a major player in the distribution of office supplies

The American company, Viking Office Products, entered the European market in 1990, initially only in the UK, and has subsequently expanded its business throughout Europe. Thanks to its pioneering expertise in distance selling, it has revolutionised the distribution of office supplies by catalogue. As the inventor of the concept of “fanatical customer service“, which has strengthened customer loyalty, Viking has developed strong brand awareness in its markets. Following its acquisition by Office Depot in 1998 and by German investment fund Aurelius in 2017, Viking is now a major player in the office supplies and workplace equipment market.

Headquartered in Venlo in the Netherlands, the acquired companies serve 1.2 million customers in Europe and have two large distribution centres in Großostheim in Germany and Leicester in the UK.

This acquisition provides the RAJA Group with additional growth opportunities in the coming years and a solid foundation to accelerate the development of the business in Europe. This will enable the group to serve more than 2.2 million customers in Europe and generate sales of more than 1.6 billion euros.

Viking has more than 30 years of experience in Europe and understands the needs and expectations of customers in its markets. Viking and RAJA Group employees share the same values of entrepreneurship and customer service culture that have made us successful. Together, we will regain the momentum for profitable growth for Viking by leveraging our shared expertise in attracting and retaining European customers and our ability to implement synergies in purchasing, marketing and sales, particularly with JPG, Mondoffice and Kalamazoo, but also with RAJA subsidiaries in each country. I am pleased to welcome the 1,500 new employees with their recognised skills and professionalism to the RAJA Group. Together we will form an even more successful team to position the RAJA Group as the leading partner for companies in EuropeDanièle KAPEL-MARCOVICI

Raffael Reinhold, CEO of Office Depot Europe: “We are very excited about this opportunity and look forward to accelerating our activities within the RAJA Group. As an independent and successful family business, the RAJA Group offers an excellent basis for the future of our company with great potential for successful cooperation and development. The strategic refocus on our core markets and activities has made our business attractive to our strategic buyer RAJA and provides an excellent position to further drive our business together.”

The transaction is subject to antitrust approval and is expected to close in the fourth quarter of 2021.

RAJA Group is being advised by the teams of KPMG (Finance) and Allen & Overy (Legal).

About RAJA Group

RAJA Group is the leading European multi-channel mail order company for business equipment and supplies. RAJA has 24 companies in 18 countries and offers the largest range of packaging in Europe as well as a complete range of office supplies and furniture, warehouse and business equipment and hygiene, cleaning and personal protection products. The group's companies serve one million customers in Europe, from start-ups to multinationals, in all areas of activity: Distribution, Industry, E-commerce, Services and Public Administration. RAJA is an independent French group founded in 1954. It stands out for the high quality of its products, the reactivity and excellence of its services, and its proximity and trusting relationship with its customers. With its European headquarters in Roissy near Paris, France, the RAJA Group employs 3,000 dynamic and competent people and expects a turnover of 1.2 billion euros in 2021.

Discover the new corporate website of the RAJA Group: raja-group.com

About Office Depot Europe

Office Depot Europe is a leading workplace solutions provider operating in several countries and working closely with the world's leading brands and small start-ups. It has years of experience and expertise, offering an integrated omnichannel platform and dedicated professionals across key channels and brands: Office Depot and Viking. He works hard to help clients focus on growing their businesses while becoming more productive, efficient, environmentally conscious and profitable. Office Depot Europe provides customers with expertise in office supplies, technology, writing, décor, furniture, stationery, filing and more. Customers trust it because it adds value to their business by meeting their needs as their primary point of contact.

About the Aurelius Group

AURELIUS is a European investment group with offices in Munich, London, Stockholm, Madrid, Amsterdam and Luxembourg. Since its founding in 2006, AURELIUS has developed from a local investor specialising in turnarounds into an international multi-asset manager. The core of the investment strategy is the operational management of the portfolio companies with a team of around 100 experts from the internal operational task force. AURELIUS supports refugees with its non-profit association, the AURELIUS Refugee Initiative e.V.