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RAJA Group signed an acquisition agreement with AURELIUS and thus takes over Viking and its Office Depot Europe subsidiaries

3min read 29/11/2021

RAJA GROUP, Europe’s leading distributor of packaging and business equipment, announces that it has entered into an agreement with AURELIUS to acquire Viking’s business operations, including their Office Depot Europe operations in seven European countries: the UK, Ireland, Germany, Switzerland, Austria, the Netherlands and Belgium. Viking, an iconic brand in Office Depot Europe’s e-commerce portfolio, is a major European player in the B2B distribution of office supplies and furniture. The company employs approximately 1,500 people and generates revenues of nearly €500 million.

RAJA Group accelerates its European expansion

RAJA Group, which operates in 18 European countries and employs 3,000 people, is Europe’s leading packaging distributor. With the acquisition of JPG, Mondoloffice and Kalamazoo in 2019, it has also become a major player in the office supplies and furniture market. The intended acquisition is part of a strategy of planned growth, customer base expansion and product diversification and will enable RAJA Group to significantly strengthen its position and geographic coverage in the European market.

“The acquisition represents a major strategic opportunity to strengthen our position in Europe, particularly these seven countries where we already operate with RAJA Group subsidiaries. The acquisition will significantly strengthen RAJA Group’s presence in local markets and fulfill our ambitions in the office supplies and equipment market. The acquisition is perfectly in line with our strategic vision to become a global partner for European companies ranging from start-ups to large multinationals and will strengthen our partnership with globally known brands”, stated Danièle Kapel-Marcovici, CEO of RAJA Group.

Viking, a major player in office supplies and equipment

Founded in the USA in 1960, Viking entered the European market in 1990, first in the UK and then expanding its activities throughout Europe. Thanks to advanced catalogue marketing techniques, the company revolutionised the distribution of office supplies. Viking, which came up with the concept of ‘fanatical customer service’, built customer loyalty and brand awareness through high levels of customer service. Acquired by Office Depot in 1998 and later acquired by AURELIUS in 2017, Viking is now a major player in the office supplies and workplace equipment market.

The two acquired companies, headquartered in Venlo, the Netherlands, serve 1.2 million customers in Europe and have two large distribution centers in Großostheim, Germany, and Leicester, UK. This significant acquisition will enable the RAJA Group to continue to grow in the coming years and provide a solid base for the development of further activities in Europe. It will enable the Group to serve more than 2.2 million customers in Europe and achieve a turnover of EUR 1.6 billion.

“Viking has more than thirty years of experience in Europe and has an excellent understanding of the needs and expectations of its customers. The employees of Viking and the RAJA Group share the values of entrepreneurial spirit and customer service culture that have made us successful. By leveraging our know-how to develop international customers and our ability to implement synergies in purchasing, marketing and sales, together with JPG, Mondoloffice and Kalamazoo and RAJA Group subsidiaries, we will return Viking to profitability and growth. Together, we will create an even stronger team to help RAJA Group achieve its position as the best partner for European companies,” said Danièle Kapel-Marcovici, CEO of RAJA Group.

Raffael Reinhold, CEO of Office Depot Europe stated, “We are very excited about the opportunity this acquisition into the RAJA Group offers us. RAJA is a successful family business and offers us a great base for the future of our business with good potential for rich collaboration, development and acceleration of our business. The strategic alignment with key markets and activities has made our business attractive to the RAJA Group and continues to provide a great position to further strengthen our joint business.”

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

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