Novexco announces acquisition of S.P. Richards Canada
| 07 January, 2020
Canadian leader in the office supply industry, Novexco has announced the acquisition of S.P. Richards Canada, the Canadian operations of U.S. based S.P. Richards, effective January 1, 2020.
Novexco has been broadening activities to help reach clients from coast-to-coast. Adding five additional warehouses to Novexco's existing network will provide a faster delivery service to all customers of the group by being able to reach them within 24 hours, no matter where their location in the country.
"This acquisition is complementary to our current distribution channel. The acquired warehouses in Western Canada will help us serve our customers in the West, whereas our existing warehouses in Eastern Canada will help reduce the delivery time to S.P. Richards Canada's customers in the East. We are pleased to expand our presence in Canada and offer an array of products and a robust coast-to-coast distribution service" says Denis Mathieu, President and Chief Executive Officer of Novexco.
"The sale of S.P. Richards Canada allows us to focus our business on the U.S. market. In undertaking this process, it became clear that Novexco was the best partner for our Canadian customers and our employees. I want to thank the entire S.P. Richards Canada team, whose hard work and dedication have made this transaction possible. We will be working very closely with the Novexco management team to help ensure a smooth transition for our employees, customers, and supplier base," said Rick Toppin, President and Chief Executive Officer of S.P. Richards.