WWF, a subsidiary of US-based Gould Paper, purchased 100% of the stock of Salehurst Group from London-based private equity firm Bridgepoint Capital.

Gould Paper chairman and president Harry Gould Jr said he planned to bring the two businesses under one roof, when WWF International UK moves into a new headquarters building in Leatherhead.

Although he envisaged there would be job losses amongst those not willing to commute, some jobs would also go in accounts and credit control because of duplication.

It would not affect sales or customer service staff, however and the final headcount has yet to be decided.

The intention is to continue expanding the business, which could see additional staff being added in the coming months.

Sales at the enlarged business will now be in excess of 80m per annum, making it one of the largest specialist distributors to the publishing and print markets in the UK.

For the time being both businesses will retain their respective names.

Gould said he had met with most of Salehursts customers, including EMAP, and the overall reaction had been favourable.

He said he was confident that a substantial percentage, if not all, of the EMAP business would be retained with the Salehurst acquisition.

The sale of the Salehurst Group includes its wholly owned subsidiaries of UK independent paper merchant Salehurst, and Gallium EURL, which operates as a paper management provider in France.

See previous story here.

Story by Andy Scott.