OFFICE 1 Iceland bought all the shares of its main competitor.
Online PR News – 23-February-2012 – – On December 31st 2011, the OFFICE 1 Iceland Master Franchisee - Egilsson ehf bought all the shares of its main competitor in the market A4 Skrifstofa og skóli (A4 School and Office supplies).
After approval of the transaction by legitimate authorities, the merger of these two established brands is expected to start any moment.
The new company will be led by the current CEO of OFFICE 1 Iceland and owner of Egilsson ehf – Mr. Egill Þór Sigurðsson who stated:„Together we are stronger“ while discussing the merger.
The company is expected to hold the leading position on the Icelandic market. It will continue offereing quality products and services to its individual and corporate customers. The key product categories will be office, school and computer supplies, educational devices, arts and crafts, suitcases, board games and puzzles. This large assortment will be distributed through wholesale, B2B and 6 retail stores.
„Even though these two companies have been competing on the Icelandic market for years, their strengths have been in different categories and different channels. Therefore, to us it looks like the perfect match, and we look forward to continuing our good cooperation with our valued suppliers around the world.“ - Mr. Sigurðsson said.
The economy of Iceland was one of the first European economies to collapse a few years ago. Egilsson and OFFICE 1 were both affected. Fortunately, OFFICE 1 Iceland has surmounted these difficulties and now directs all its efforts towards greater business development.
For more information please go to http://www.office1international.com/news.php.