Acquisition of German company allows the Inapa diversify supply

The acquisition announced yesterday by Inapa a German company of visual communication should enable the company to diversify its supply business in the distribution of paper, the analysts consider the BIS. However, those responsible stress that the investment was not disclosed by this acquisition that may not have "a clear assessment of the impact of this business."


The acquisition announced yesterday by Inapa a German company of visual communication should enable the company to diversify its supply business in the distribution of paper, the analysts consider the BIS. However, those responsible stress that the investment was not disclosed by this acquisition that may not have "a clear assessment of the impact of this business."

The Inapa announced yesterday that, through Inapa Viscom, its subsidiary dominated Papier Union, acquired the company Complott Art-Vertrieb, a German company for the distribution of material, visual communication, the leader of its sector in the German market and that obtained in the year past, a volume of sales of 10.6 million.

"Impact: Neutral at this stage. Believe that this movement should enable the Inapa diversify its offer in the business of distribution of paper, entering new" niche "(...) and reaching some gains in 'cross selling'," referring the BPI analysts of the "Iberian Daily" today.

The same source added that the company now gained represents about 1% of the consolidated revenue of Inapa and 1.8% of its revenue in Germany. The investment bank recalls that Inapa "has been seriously committed to starting new lines of business in order to become an integrated provider and has recently made some small acquisitions in new areas of business in Germany and France."

However, the company led by Felix Morgado did not reveal what the investment of this operation or its profitability, which prevents the BPI to make a clear assessment of the impact of this business, stressing that the German market is the main market in Inapa, representing approximately 52% of its revenue concolidadas.

The BIS has a recommendation to "buy" and a price target of 1.20 euros for the actions of Inapa.

The Caixa BI in the "Daily" today says, too, that in the last report issued on the company already included the objectives of the Strategic Plan in their estimates. "No plan said the Inapa emphasizes the concentration on core markets considered by the group, focusing on the objectives regarding the expansion of the range of products distributed by the group to a business complementary to traditional, so we approve favourably to the news," says the investment bank that has a recommendation of "accumulate" and a price target of 1.35 euros for the company.

The actions of Inapa [Cot] followed stable in the 0.89 euros