Antalis completes rescue buyout of Ovenden Papers

Global paper, packaging, and display solutions supplier, Antalis, has acquired the assets and trade of UK-based material broker, Ovenden Papers, after the company entered formal administration.

Ovenden Papers, which entered administration after 83 years of trading, will continue to operate under its family name, with support by Antalis in the UK and Ireland. The acquisition includes the business’ customer relationships, employees, premises, and relevant operational assets.

Ovenden has cited cash-flow pressures, escalating warehousing and logistics overheads, and broader economic volatility across the UK paper merchanting sector as key reasons behind the decision to enter administration and secure a rescue buyout.

Antalis aims to ensure continuity of service for existing Ovenden customers and protect employee jobs while a full business review takes place. Antalis will work with employees, customers, and suppliers with the goal of minimising disruption as the business becomes part of the Antalis organisation.

Antalis, which has completed a range of acquisitions of other companies in recent years, hopes that the purchase will further strengthen its presence in the UK paper merchanting market and bring further business and customers into the Antalis network.

Nick Thompson, regional managing director for Antalis UK and Ireland, says: “While it is disappointing to see a long-established business such as Ovenden Papers enter administration, we are pleased to have been able to acquire its assets and trade and provide a route forward.

“Ovenden Papers has established customer relationships, experienced employees, and valuable market knowledge. Our immediate priority is to provide stability and continuity for customers, suppliers, and employees while we undertake a detailed review of the business and its operations.”

Antalis is set to provide further updates as the transition progresses and the initial operational review is completed.