The acquisition will bring approximately $50m in additional revenue to CPI Group and add a leading supply position in the continuous forms market across Australia, as well as expanding CPI’s already extensive product portfolio.
According to the CPI statement, Boomerang Paper is a strong brand within the industry and will continue to trade under its own name under CPI-Group ownership.
Boomerang Paper opened for business in 1969. From its humble beginnings, the company quickly grew into one of Australia’s largest privately owned wholesale paper merchants. As a wholesale company, it supplies to both printers and stationery retailers.
Boomerang prides itself on sourcing what it deemed to be the finest paper stocks from Australia and internationally to provide printers and stationery suppliers with a huge range of high quality products to choose from. These include specialty papers, from exclusive ’up-market’ stocks to more cost-effective papers from such manufacturers as Australian Paper and Mitsubishi Paper Mills.
In addition to paper supply, the company also strove to meet the reel needs of its customers by offered slitting and rewinding services.
Boomerang Paper is well-known in the industry for its high quality service and product, and this was exemplified by its being recognised as a Quality Endorsed Company (AS 9002). It is this industry standing in the Australian industry that undoubtedly contributed to it being courted and purchased by CPI Group.
According to David Bull, CPI group sales & marketing manager, the deal is still in its earliest stages, with the main priority now to contact all of Boomerang‚s customers to explain how the purchase will affect them. Bull says that exact details of the acquisition cannot be made available at this time, but will be presented in due course.
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