o2o Acquisition Finalised
Vasanta are pleased to announce that following Shareholder, Court and regulatory approval being granted by the Competition and Market Authority (CMA), EVO Business Supplies, a company owned by funds managed by Endless LLP, has successfully completed the acquisition of office 2 office plc (o2o).
Now that the deal is complete, we will begin to refine our plans to merge Vasanta with o2o. The new £660m Group will be one of the largest multi-channel distributors of business supplies and services in the industry with unparalleled reach and experience. The successful VOW Wholesale business will gain access to the industry leading o2o Truline final mile delivery service, giving the Group a fleet of around 300 vehicles. Supplies Team and Banner will merge to create a £220m contract stationery business with a strong position focused on large corporate and public sector customers.
Robert Baldrey, EVO Group CEO commented: “We are delighted to have completed the acquisition and are extremely excited about the opportunities offered by the creation of the merged Group. We immediately gain significant scale, which is so critical in this consolidating market, and an industry leading final mile delivery service. We will also offer an unmatched breadth of product range and depth of experience in the market. I am convinced that we can drive the merged Group on to even more success than we have separately enjoyed these past few years.”