Hogan Lovells Advises Kokuyo on its Strategic Acquisition in India
25 October 2013
TOKYO, 25 October 2013 – Hogan Lovells in conjunction with Indian firm Phoenix Legal has advised Japan's largest stationery maker KOKUYO Co., Ltd., (Kokuyo) on its acquisition of Riddhi Enterprises (Riddhi), a Mumbai-based notebook manufacturer. The acquisition is anticipated to be made through Kokuyo's subsidiary KOKUYO S&T Co., Ltd. (Kokuyo S&T) and will result in the creation of KOKUYO Riddhi Paper Products Limited, a new wholly-owned entity based in Mumbai. The transaction was announced on 6 September 2013 and is expected to close in October 2013.
The Osaka-based stationery maker Kokuyo has been best known for its signature Campus brand notebooks and now provides a full spectrum of office supplies and productivity solutions in more than six countries.
The acquisition of Riddhi will provide Kokuyo with immediate access to its global marketing network across the United States, South America, the Middle East and Africa and aligns with Kokuyo's strategy to expand into overseas markets. India has been a foothold of this expansion since Kokuyo acquired a majority stake in Mumbai-based ink and pen manufacturer Camlin in May 2011.
The cross-border Hogan Lovells team advising Kokuyo was led by Tokyo corporate partner Rika Beppu, supported by Of Counsel Jacky Scanlan-Dyas and associate James Nepaulsingh.
Commenting on the transaction, Rika Beppu said:
"We congratulate our long-standing client Kokuyo on its key strategic move which will propel its growth in India and globally. Our cross-border M&A team with unrivalled regional coverage will remain committed to supporting the client's outbound endeavours wherever they go."
The Phoenix Legal team was led by senior partner Manjula Chawla ably supported by senior associates Abhishek Bhallaa and Ritika Ganju and associate Kripi Kathuria.
Commenting on the transaction, Manjula Chawla said:
“It has been great working with Kokuyo on this transaction and we have learnt a lot from their extremely professional approach. Kokuyo is confident about the economic climate in India and, we hope to continue this relationship and support Kokuyo in its future endeavours in India.”