Completing today (1 November), the acquisition sees Waddinxveen-based PPM brought into the HH Global fold in the Netherlands, taking on its name and branding, with a view to merging premises with HH Global's current Dutch outpost in Nieuwegein that was opened 12 years ago.
The terms of the deal for the division that comprises around €20m (£17.5m) of PostNL’s overall sales and has around 20 staff were not disclosed.
HH Global chief executive Robert MacMillan said he was “delighted” after it had triumphed in a “competitive process” that had seen a number of businesses interested in acquisition.
“We knew of this particular business; it’s got a good reputation," MacMillan told PrintWeek.
"The process took time but we came through successfully and we’re delighted because what it does is give us some great clients and critical mass in the Dutch market."
PPM’s clients, which include Jumbo Supermarket and a range of telecom and insurance companies, will now join existing HH Global Dutch clients, the likes of Tommy Hilfiger, Google and PepsiCo.
MacMillan added: “This is what we do: we are a procurement business centered around print on any type of substrate, whether that’s general, POS, premium or secondary packaging, and we have that and a creative productive services offer.
“We want to bring in new people and build and grow the Dutch market as we do in all of our markets and to be frank I don’t know many other companies that are particularly interested or looking to invest in this space.”
MacMillan extolled the virtues of the ability of his non-listed company to acquire and said that the now £267m-turnover operation would be looking for more European acquisitions in the near future.
“Companies that are listed are challenged because every quarter they are having to report and many are trying to be all things to all people,” he said.
“We’re owned by the people that work in the company and can therefore take a longer-term view and make our own decisions. We’re not under any pressure to sell or report and are not part of a larger group that ultimately makes the decisions for us.”
PostNL director of mail Resi Becker said: “We are convinced that print management will have a promising future now it is part of HH Global. They are a company with this activity at their core and can provide the preconditions for success.”
Operating from 43 countries with around 800 employees, the news comes in a year that has seen Leatherhead-based HH Global post record annual and quarterly results, while receiving a Queen’s Award for international trade.
