Japan Pulp and Paper to acquire Oceanian peers for $64m
Japan Pulp and Paper is set to acquire Oceanian peers for an estimated JPY7bn ($63.9m), in a deal which could close in July. Japan Pulp and Paper, the country's largest paper trading house, plans to integrate Oceania's largest paper merchant, PagePack with Melbourne-based KWDoggett, the region's third largest, before taking a majority 51% stake in the merged organisation. The company is also set to acquire the remaining 49% in the coming years.
TOKYO -- Japan Pulp and Paper, the country's largest paper trading house, will acquire Oceanian peers. The move is in response to a shrinking domestic paper market due to falling population and other factors.

The company aims to boost revenues in Australia and New Zealand, where immigration policies have helped populations grow. It plans to integrate operations of Auckland-based PagePack -- Oceania's largest paper merchant and known for its BJ Ball brand -- with Melbourne-based K.W.Doggett, the region's third largest.