Esselte recommendation seen as positive move
Magnus Nicolin expected to return
Esselte’s recommendation that its shareholders accept the offer made by investment company JW Childs is seen as a positive move for all concerned. JW Childs is a company with a strong financial footing and its skill is growing brands and acquiring businesses. Its intention with Esselte is to grow the business through a strategic mix of brand building, product development and expansion into new geographical areas. Other office supplies acquisitions are likely to follow.
Once the deal is completed, Magnus Nicolin, vice president of Esselte who left the company last year, is expected to take up the role of chief executive officer and president.
28-May-2002
