Frankfurt / Berlin. Advent International, the global private equity firm, today signed agreements to sell its 66% stake in Herlitz, a leading provider of stationary products in Europe, to Pelikan International Corporation Berhad, the international manufacturer and distributer of writing instruments, school stationery, office supplies, and printer consumables.
Herlitz is a long established household brand in Germany and has been listed on the Frankfurt Stock Exchange since 1977. Following a rapid expansion until the mid 1990’s, the company underwent a significant financial restructuring in 2001 which included Herlitz’ consortium of banks taking a stake of 65%. In 2005 Advent acquired a total of 66% of the company taking over the stake from the banks and from a voluntary takeover offer.
The acquisition of Herlitz by Pelikan represents a logical step as it combines two leading brands and two complementary businesses. Herlitz has a strong regional presence in Germany and Eastern Europe and well established sales channels, particularly in the food retailing sector. Pelikan has a leading market position in Western Europe, Latin America and Asia and long-lasting client relationships with specialist shops. The transaction will thus open up additional business opportunities for Pelikan and Herlitz."
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