The announcement:
GNS acquires Satex, completing its national wholesale footprint
GNS Wholesale (‘GNS’) today announced it has signed an agreement to acquire the business and operations of Satex Distributors (‘Satex’) from its owners, Ron Vanderloo and Trevor Green. Operating for over 40 years, Satex is an Adelaide- based wholesaler of of ce products, education and art supplies focussed on the commercial dealer market.
Satex supplies over 250 customers throughout South Australia and the Northern Territory on a daily basis from its approx. 1,200 sqm warehousing and distribution facility in Marleston, South Australia.
The acquisition of Satex enables GNS to better support its customers with a national wholesale footprint, adding cost- effective distribution capability in South Australia and the Northern Territory. GNS’s ownership will also provide a broader and deeper product range and service offering to existing Satex customers. Ron Vanderloo will remain with the business, which will retain the Satex Distributors name, and oversee both the enlarged Adelaide-based operations and the integration of Satex’s business into the GNS group.
Paul Yardley, CEO of GNS Wholesale, said, “I’m pleased to announce the acquisition of Satex, creating a true national wholesaler and bringing a new customer base to GNS. This transaction completes our ability to service accounts nationally and provides suppliers with signi cant ef ciencies. Ron and Trevor have built an excellent business and I’d like to welcome Satex employees to the GNS family.”
Ron Vanderloo, joint owner of Satex, said, “Having owned the business for thirty years, given the consolidation in our market we decided now was the right time for Satex to join a larger group. This transaction protects the future of our business and its employees, and I am excited to be working with GNS to bring new opportunities to customers while retaining all the bene ts of dealing with Satex.”
Terms of the acquisition are con dential and have not been disclosed. The acquisition is expected to take effect on or around 1 January 2018 and will be funded from GNS’ existing cash resources.
If only GNS would spend some time buying stock to put on their shelves rather than other businesses! I am so sick of the amount of out of stocks we keep getting
They selling their brick and mortar assets reducing stock yet they are running around small wholesalers who are probably happy to find a buyer under the current economy in the stationary industry. Many years ago Ancol their predecessors become arrogant not listening to their customers , after newsagents had enough of them GNS was born formed by a group of newsagents Ancol died will history repeat itself?
The logical move would have been for Ancol SA and GNS to get together. That not being possible does not make a compelling case for acquiring Satex. Flabbergasted !!
Maybe a more moral move would be for GNS to give us back our levies.