ACCO sales boosted by Esselte and Pelikan Artline
| 04 May, 2017
The acquisitions of Esselte and Pelikan Artline resulted in ACCO Brands increasing its net sales by 29% to $359.8 million from $278.1 million in the first quarter compared to the prior-year quarter.
Excluding the effects of the Esselte and Pelikan Artline acquisitions and foreign exchange, comparable sales declined 5%.
ACCO Brands EMEA saw sales increase 148% to $96.5 million from $38.9 million in the prior-year quarter. The Esselte acquisition added 166% to sales, or $64.5 million. Comparable sales decreased 12% due to share loss and inventory reductions at certain customers.
Sales at ACCO Brands North America decreased 2% to $174.9 million from $179.3 million in the prior-year quarter. The Esselte acquisition added 2% to North America sales, or $2.9 million. The comparable sales decrease of 4% was primarily due to declines with office superstore customers and certain wholesalers.
Sales at ACCO Brands International were up 48% to $88.4 million from $59.9 million in the prior-year quarter. The acquisitions added 43%, or $25.7 million.