ACCO Brands has announced that it has signed a definitive agreement to acquire GOBA Internacional, S.A. de C.V., a leading provider of school and craft products in Mexico, for a cash purchase price of approximately US$31 million, subject to working capital and other adjustments.
The estimated full-year incremental sales contribution to ACCO Brands would be approximately US$41 million and would raise total annual sales of the company’s business in Mexico to approximately US$90 million.
The transaction is expected to result in modest adjusted earnings per share accretion and adjusted EBITDA of US$6 million on an annualized basis. The transaction is expected to be consummated in the next 60 days.
“We are very excited to increase our presence in faster-growing consumer and school product segments with the addition of strong brands such as Barrilito,” said Boris Elisman, chairman, president and CEO ofACCO Brands.
“These brands and products increase our penetration with wholesalers and retailers throughout Mexico and complement our existing distribution in the country.”