Antalis, the French subsidiary of KPP Group Holdings (TSE: 9274), has signed an agreement to buy OptiGroup's paper wholesale businesses in Switzerland, central and eastern Europe, the Baltics and Germany. KPP's board approved the deal on 2 October 2026, and the share and asset transfer agreement was signed the same day.
What Antalis is buying
The seller is Papyrus Group, the paper wholesale arm of OptiGroup. Antalis will take all the shares of nine companies operating in Switzerland, central and eastern Europe and the Baltic states, plus assets belonging to the paper wholesale business in Germany.
KPP describes the target as a business selling mainly printing and office paper to more than 13,000 customers, with revenue of about €215mn for 2025. OptiGroup itself is a B2B distributor operating in 19 European countries.
The disclosure gives three-year figures for four of the nine companies, under local accounting standards. Papyrus Schweiz AG had revenue of CHF71.9mn in 2025, down from CHF89.5mn in 2024. The Polish unit, Papyrus Sp. Zoo, reported PLN112.1mn, down from PLN140.8mn in 2023. The Romanian unit's revenue was RON93.7mn, and the Lithuanian unit's was €12.7mn. The other five companies are not detailed.
| Company | 2023 | 2024 | 2025 |
|---|---|---|---|
| Papyrus Schweiz AG (CHF) | 80,909k | 89,464k | 71,901k |
| UAB Papyrus Lietuva (EUR) | 13,331k | 13,373k | 12,666k |
| Papyrus Sp. Zoo (PLN) | 140,777k | 126,034k | 112,116k |
| Papyrus Romania SRL (RON) | 99,692k | 100,975k | 93,726k |
Conditions and timing
The deal depends on customary closing conditions and on competition-law approvals in some European countries. Until closing, the target companies will run as independent businesses. The acquisition period is expected to run from 20 December 2026 to 31 March 2027.
KPP says the price is confidential under an agreement with the seller. It says the price is below 15% of consolidated net assets at the end of March 2026, and that it was set after talks based on results, financial condition and third-party due diligence. KPP expects a limited effect on current-year consolidated earnings, and a positive effect on group value over the medium to long term.