Deutsche Post World Net Sells McPaper AG12/09/2004, 12:00 PM CET
- Concentration on core business
- Stationery range retained in postal retail outlets
Deutsche Post World Net is to sell all of its stocks in McPaper AG, Berlin, with effect from January 1, 2006. McPaper AG sells an extensive range of paper, office and stationery products at 280 retail outlets, with annual revenue of roughly 100 million euro, and has approx. 1,200 employees.
Deutsche Post World Net acquired McPaper AG from stationery manufacturer Herlitz AG in 1998, in order to add an attractive range of paper, office and stationery products to its selections of goods on sale at retail outlets, to build up further retail know-how and to acquire attractive branches. Following the acquisition, products and services by Deutsche Post and Postbank were sold at over 300 McPaper retail outlets.
These McPaper/Post outlets were hived off from McPaper in 2001 and integrated into the Deutsche Post World Net Group. Following the successful integration of these 300 retail outlets and the efficient collaboration in purchasing, the continuation of a stationery retail company with 280 retail outlets is no longer part of Deutsche Post World Net's core business.
The company is to be sold to Johannes Kahl, who has been the chair of McPaper AG for many years, as well as Axel Draheim, a future board member. The buyers will undertake to continue the business model in its present form, which means there will be no job cuts at McPaper AG. The decision will not affect Deutsche Post's retail outlet network. In addition, postal retail outlets will retain their range of paper, office and stationery products.