Better Capital Limited’s BECAP Fund LP (the fund) has entered into an agreement to acquire the UK and Irish business of Spicers, a pan-European supplier of stationery and office products, which is currently a subsidiary of DS Smith Plc, from Unipapel SA.
The agreement is conditional upon the proposed disposal of Spicers by DS Smith Plc to Unipapel SA. The fund has committed GBP40 million to a wholly owned special purpose vehicle set up to effect the transaction.
