Bytes Document Solutions has completed its R160 million acquisition of NOR Paper after competition authorities approved the deal.
The Altron subsidiary says the buy will add R1.5 billion to its revenue stream over the next five years.
Bytes Document Solutions MD Rob Abraham says the acquisition complements the activities of its Production Systems Group and, in particular, the print-for-pay market, "which represents a large and rapidly growing percentage of Bytes Document Solutions' business".
"We already conduct a significant paper merchant business that is focused on the office printer marketplace," he says.
"This is a strategic step as it allows us to be an even better partner to commercial printers. We will make no changes to the NOR operations as they have satisfied customers, both companies [in Cape Town and Johannesburg] are well led, they produce good financial results and we want them to be a part of our world," adds Abraham.
NOR Paper started as a privately held, Cape Town-based business in 1974. Today, it turns over in excess of R250 million and supplies a range of papers, including commercial coated art papers, uncoated papers, general stationery grades and carbonless papers, with over 30 different grades in the range.
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