Months of rumour, speculation and denial has ended today with the announcement of an agreement for the 100% sale of PC Direct to the Blue Star Group.
PC Direct managing director Maurice Bryham says the sale is “the bringing together of two New Zealand business success stories”.
The deal will see the PC Direct partners take shares in US Office Products and retain their active involvement and management of the business. It is a 100% sale including the 25% stake held by Direct Capital Partners.
“We see this as the chance to become part of what is now one of the largest multi-tiered technology groups in this part of the world,” says Bryham.
Blue Star’s seemingly unending buying spree of New Zealand office products suppliers has already seen the acquisition of Whitcoulls, Ubix, Wang New Zealand, General Packaging and Wellington Business Equipment. A bid for computer company Sealcorp fell through due to tax hitches last month.
Blue Star’s US-based parent, US Office Products, has completed 90 acquisitions since it was founded in 1994 and claims annual sales of $3.4 billion.