News within the industry of pulp and paper, Dec, 13 2018
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Iconex to acquire Schades and R+S

Photo: Schades
Photo: Schades
Published by
Simon Matthis - 26 Nov 2018

Iconex, the leading low-cost manufacturer of receipt and differentiated label solutions, announced today the signing of a definitive agreement to acquire Schades and R+S from Hansol Paper. As a result of this transaction, Iconex, already the market leader in North America, will become the European market leader as well.

“This acquisition enables our company to grow while ensuring continuous and consistent delivery of the best products. The scale, asset base, R&D capabilities and know-how that is being established with this combination of companies will create significant opportunities and advantages for our customers and suppliers.”

Schades, headquartered in Skive, Denmark, converts thermal paper for its customers, including receipt paper rolls for cash registers and self-adhesive labels. It enjoys a market-leading position in Europe with a unique customer base including retail, office stationery, distributors in food and non-food retail, and logistics. Headquartered in Sarstedt, Germany, R+S converts and markets thermal paper for receipts, coupon and ticket applications as well as labels.

Both companies are being brought into Iconex to form one integrated European company possessing unparalleled industry and regional knowledge, expertise and capabilities that will benefit customers, employees, and suppliers. With the integration of Schades and R+S significantly expanding the company’s geographic presence in Europe, Iconex will now have employees spanning across 14 locations in seven countries on three continents.

Closing is expected to take place in the fourth quarter of this year. Terms of the transaction were not disclosed.

“We are thrilled to welcome Schades and R+S into the Iconex family,” said Craig Gunckel, Iconex Chief Executive Officer. “This acquisition enables our company to grow while ensuring continuous and consistent delivery of the best products. The scale, asset base, R&D capabilities and know-how that is being established with this combination of companies will create significant opportunities and advantages for our customers and suppliers.”

 

“This deal provides great business flexibility for Hansol and our shareholders, and what’s more, we are confident that partnering with Iconex will be strategically beneficial to Schades and R+S,” said Sang-Hun Lee, Hansol Paper’s Chief Executive Officer.

 

Iconex will continue to be headquartered in Duluth, Georgia.