June 15, 2011

Neopost acquires GBC

Neopost acquires GBC – Fordigraph, the leading Australian distributor of document finishing and mailing solutions

  • Establishment of a strong direct presence in Australia, a significant market
  • A further step in the consolidation of Neopost’s distribution network
  • Additional sales expected to reach approximately €30 million on a full-year basis

NEOPOST 2011 SALES GUIDANCE UPGRADED

  • 2011 sales expected to grow between 3 and 5% at constant exchange rates

NEOPOST TO SET UP ASIA-PACIFIC REGIONAL HEADQUARTERS IN SINGAPORE 

  • A strategic move in a fast growing economic region
     

Paris, 14 June 2011

Neopost, the European leader and world’s number two supplier of mailroom solutions, today announces it has completed the acquisition of GBC – FORDIGRAPH Pty Ltd (‘GBC Australia’), the Australian market leader in commercial document finishing and business mailing solutions with a reputation for quality, reliability and service. 
 

Acquisition of GBC Australia

GBC Australia provides equipment, supplies and service for document binding, laminating, printing, shredding and mail processing. As part of its offering, GBC Australia has been the exclusive distributor of Neopost systems in Australia for almost twenty years. Once fully consolidated by Neopost, GBC Australia’s shall bring Neopost additional sales of around €30 million on a full-year basis. GBC Australia will be consolidated as of 1st June 2011.  

Previously, a subsidiary of ACCO Brands Corporation (NYSE: ABD), a world leader in office products, GBC Australia employs approximately 175 people. The company’s head office is located in Sydney. It has branches in Melbourne, Brisbane and Canberra along with GBC authorised dealerships in South Australia, Western Australia, Northern Territory, Tasmania and in New Zealand. 
 

Upgrade of Neopost 2011 sales guidance 

GBC Australia should bring Neopost about €20 million in additional sales in 2011. Given that amongst the underlying assumptions of Neopost’s former sales guidance, which was set at 2 to 4% growth at constant exchange rates, the Group was expecting dealer acquisitions to contribute approximately 1% of growth, Neopost sales growth is now expected to reach 3 to 5% at constant exchange rates in 2011.

Setting up of Asia-Pacific regional headquarters 

The decision to establish a direct presence in Australia and to consolidate its position in this market, is part of Neopost’s strategy to develop its activities in the Asia-Pacific arena with regional headquarters in Singapore. The role of the newly established office in Singapore will be to oversee and support Neopost marketing and sales operations in the entire region, including the newly acquired GBC Australia, the existing operations in Japan and India, as well as Neopost’s network of distributors in other Asia-Pacific countries.  

Including GBC Australia, Neopost Asia-Pacific should achieve sales close to €50 million as early as in 2012. Looking forward, the region provides opportunities in Neopost core mailroom solutions whilst the development of shipping and logistics solutions also looks promising. 

Denis Thiery, Chairman and Chief Executive Officer of Neopost, stated: “We are very pleased to strengthen our presence in Asia-Pacific. Through the acquisition of GBC Australia and the setting up of our regional headquarters, we are taking two important steps in the development of our sales in a fast growing and promising region. Controlling our distribution network with a direct ownership  of our own channels is a cornerstone of our strategy, allowing for a better deployment of  the Neopost business model. Whilst giving us access to new product ranges that complement our existing offer, the acquisition of GBC will also bring to Australian customers an easier access to Neopost innovative solutions and enhanced services in the mailing business.” 
 

Neopost in Asia-Pacific 

Complementing Neopost distribution and marketing operations in Asia-Pacific, Neopost interests in the region also include the subcontracting of its mid-end mailing systems production in Penang, Malaysia, the sub-contracting of its entry-level mailing and document systems production in Guangzhou, China, as well as the sub-contracting of some of its R&D activities in Hanoï, Vietnam. 
 

Conference call today at 13h30 (CET) 

Denis Thiery, Chairman and CEO, invite you to participate in a conference call today at 13h30 CET. The number of the conference call is +44 20 7806 1968. A replay is available until 20 June 2011 dialing the number +44 20 7111 1244 with the password 8141875#.
 

Calendar 

The AGM will be held in Paris on 5 July 2011. Sales for the second quarter of 2011 will be published on 1 September 2011 after market close.  
 

About Neopost

NEOPOST IS THE EUROPEAN LEADER and the number two world-wide supplier of mailing solutions. It has a direct presence in 19 countries, with 5,700 employees and annual sales of €966 million in 2010. Its products and services are  sold  in  more  than  90  countries.  The  Group  is  a  key player in the markets for mailroom equipment and logistics solutions.  

Neopost supplies the most technologically advanced solutions for franking, folding/inserting and addressing as well as logistics management and traceability. Neopost also offers a full range of services, including consultancy, maintenance and financing solutions.  

Neopost is listed in the A compartment of Euronext Paris and belongs notably to the SBF 120 index.  

About acco Brands

ACCO BRANDS CORPORATION IS A WORLD  LEADER in office products. Its industry-leading brands include DayTimer®, Swingline®, Kensington®, Quartet®, GBC®, Rexel, NOBO, Derwent, Marbig and Wilson Jones®, among others.
 

For further information, please contact:

Gaële LE MEN, Investor Relations Officer
Tel: +33 1 45 36 31 39
Fax: +33 1 45 36 30 30
E-mail : g.le-men@neopost.com

Fabrice BARON, DDB Financial
Tel: +33 1 53 32 61 27
Fax: +33 1 53 32 61 00
E-mail : fabrice.baron@ddbfinancial.fr

Or visit our website: www.neopost.com