The paper merchant announced today that its Danish operations had bought Cadorit AB, a Swedish company with annual revenues of $3.2 million.

The purchase price was about five times Cadorit's earnings before interest and tax for 2012, said Paperlinx.

The acquisition completed on 1 June and was funded out of the local credit facilities of the Danish business.

Chief executive Dave Allen said: "The acquisition of Cadorit is consistent with the group strategy of expanding our revenue streams beyond our traditional commercial print offering via organic growth and or complementary bolt-on acquisitions.

"We are extremely excited about the opportunity that this acquisition brings to Paperlinx as it will provide a platform to becoming a leading supplier of visual technology and packaging solutions in this region."

Paperlinx also acquired Christchurch-based Canterbury Packaging in August.

The company posted a $57.3 million loss for the six months to 31 December 2012.

[Related: Ups and downs of Paperlinx]

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