EO Group acquires Eurostat
February 26, 2018
With the CEO of independent office supplies dealer, Eurostat, set to retire, the business has been taken over by EO Group.
As ChannelInfo reports, the two companies initially began with a discussion about “the possibility” of Eurostat joining EO’s Office Power; but, as Eurostat founder Stefan Mercado was “keen to exit the business and retire”, the decision was made for EO to acquire Eurostat.
Eurostat was founded by Mercado in 1991, and has since burgeoned to employ a staff of 60, with offices in four major cities across the UK, including London and Brighton.
This acquisition will benefit EO in a number of ways, including allowing the Group “to increase its buying power, further develop the Office Power platform, improve the group’s category roll-out plans and drive customer loyalty.”
Simon Drakeford, EO Group’s CEO said, “The business case for Eurostat joining Office Power was so strong that, when Stefan expressed a desire to exit the business, the obvious course of action was for us to acquire it. The strategic fit is perfect, and the benefit will be felt across all parts of our business; which further validates our technology and the success our platform has in organising dealer networks”.
Stefan Mercado, Owner, Eurostat added, “I was originally very attracted to the concept of Office Power but felt that after 27 years of successfully building the business it was time to step down completely and hand over to a new team that would inject the modern tech, vitality and strategic direction that Eurostat now needs. I believe I have found the ideal partner to do that – both for my customers and all my colleagues at Eurostat – and I will be enthusiastically cheering them on with excitement and a proud heart from the side lines now, as they move forward, prosper and grow within the EO Group.”
Categories : Around the Industry
Tags : Acquisition EO Group Eurostat UK
