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Japan Pulp and Paper (JP) has announced its plan to buy a 51% stake in the soon-to-be merged businesses of Australiasian paper and packaging suppliers BJ Ball (Page Pack Pty Ltd) and KW Doggett.
In a deal subject to several approvals, including that of the ACCC, BJ Ball, an importer and wholesaler of paper, packaging and related products and KW Doggett, importer and merchant of fine papers are set to merge their businesses, and JP will purchase a 51% stake in the merged entity to the value of A$84m.
The group plans to buy the remaining 49% stake over the next few years, taking the total acquisition close to A$240m.
In reports from Tokyo, the impetus for the acquisition is cited as a shrinking domestic paper market and an urgent need to strengthen JP’s business base in the Oceania market.