Lyreco and Lomax jointly announce the decision to renounce their proposed transaction

Roskilde, Denmark – October 31, 2023– Today, Lyreco and Lomax jointly announce the decision to renounce their proposed transaction, as the Danish Competition and Consumer Authority (DCCA) has indicated that the acquisition could raise competition concerns in Denmark. After having spent more than a year in the effort of obtaining the approval of the proposed transaction, Lyreco and Lomax are disappointed and disagree with the DCCA on their understanding of the market and their conclusions on the outcome of the acquisition.

During the entire notification process, Lyreco and Lomax have encouraged the DCCA to engage in a constructive dialogue regarding the proposed transaction. Despite these efforts, 
it has generally been a difficult process.

Despite both companies continued interest in expansion, trying to convince the DCCA has proven to be impossible thus withdrawing the notification at this stage is in both companies’ best interest. Lyreco and Lomax will now separately continue to explore growth opportunities in the market to benefit their customers. 

“Lyreco will nevertheless pursue its transformation and continue servicing all its clients with the same great customer experience and excellence” stated Grégory Lienard, Chief Executive Officer at Lyreco. 

“At Lomax, we have continued our focus on delivering an attractive proposition for our customers online over the last 14 months, accordingly our business is growing and we are achieving strong financial results. Delivering an attractive proposition and be open to new opportunities will remain our key focus going forward.” said Kenneth Borup, Chief Executive Officer at Lomax.