Acquisition to broaden S.P. Richards Canada’s private label reach 

The Canadian arm of office product distributor S.P. Richards is being acquired by Novexco, a member owned fellow Canadian office supply, technology and furniture distributor. The acquisition, which took effect Jan. 1, is meant to improve Novexco’s abilities to provide fast delivery service to its customers across Canada, adding five warehouses to its existing network. 

"This acquisition is complementary to our current distribution channel,” said Denis Mathieu, Novexco president and CEO. “The acquired warehouses in Western Canada will help us serve our customers in the west, whereas our existing warehouses in eastern Canada will help reduce the delivery time to S.P. Richards Canada's customers in the east. We are pleased to expand our presence in Canada and offer an array of products and a robust coast-to-coast distribution service."
 
Novexco noted that the acquisition will bring its customers a wider selection of products and brands, including S.P. Richards’s private label products. The two companies have put in place a long-term agreement that will allow for continued access to the S.P. Richards private brands for Novexco customers across channels and markets. 

"The sale of S.P. Richards Canada allows us to focus our business on the U.S. market,” said S.P. Richards president and CEO Rick Toppin. “In undertaking this process, it became clear that Novexco was the best partner for our Canadian customers and our employees. I want to thank the entire S.P. Richards Canada team, whose hard work and dedication have made this transaction possible. We will be working very closely with the Novexco management team to help ensure a smooth transition for our employees, customers, and supplier base.”