Europapier Bulgaria, owned by Austrian paper trading group Europapier, plans to acquire Plovdiv-based Micro Asu, according to notification submitted to the Commission on Protection of Competition (CPC), seeking approval for the deal. The Bulgarian company was established over 30 years ago and trades in materials and machinery for the advertising industry. Approached by the Capital Weekly, Micro Asu declined to comment.
Different segments
According to the notification, Europapier Bulgaria aims to acquire sole control over Micro Asu, which is currently owned by 10 individuals. The two companies operate in different segments, so the deal will not increase the buyer's market share but rather expand its scope of activities. Europapier and its parent group deal in wholesale trade in paper for the printing industry, packaging paper, cardboard, etc. Micro Asu, on the other hand, is involved in trading in materials for visual communication, as well as other consumables and equipment for commercial graphics.
The buyer
Europapier Bulgaria was registered in Sofia in 2002. Its Austrian owner presents itself as the largest wholesale paper trader in Central and Eastern Europe (CEE). Europapier Group's turnover for 2022 was close to 775 million euro. Europapier itself is part of a larger group - Heinzel, which is a leading pulp manufacturer in CEE.
The Bulgarian company booked sales of 40.3 million levs (20.2 million euro) in 2022, up 42% year on year. According to the management's report, the jump was entirely due to higher manufacturer prices for all products. Europapier Bulgaria also managed to more than treble its profit to 3 million levs thanks to better margins. The company employs 19 people.
The trader from Plovdiv
Micro Asu is a wholly Bulgarian-owned company, with the main shareholders being Hristo Tepavicharov and Anton Georgiev (each with 38.37%), and Petar Sabinski (12.53%), who are also managers. The firm was established in 1993 and, according to information on its website, has grown over the years to become a leading name in the industry.
The company trades in a wide range of products: self-adhesive foils, vinyl, printing plates, signs, etc., and represents over 60 suppliers. Its business is concentrated entirely in Bulgaria, with the company owning warehouses and stores in several cities in the country. Its revenues for 2022 increased by 14% to 17.8 million levs, and profit amounted to 2.3 million levs. The company employs 60 people.
At the end of last year, Micro Asu spun off a separate company, Signhouse, which took over the assets and activities of management, maintenance and rental of real estate. Properties worth 3.3 million levs were transferred to the new company. The transformation was probably made in preparation for the upcoming deal with Europapier.
Europapier Bulgaria, owned by Austrian paper trading group Europapier, plans to acquire Plovdiv-based Micro Asu, according to notification submitted to the Commission on Protection of Competition (CPC), seeking approval for the deal. The Bulgarian company was established over 30 years ago and trades in materials and machinery for the advertising industry. Approached by the Capital Weekly, Micro Asu declined to comment.
