Smead CEO Sharon Avent has announced that the company is now to concentrate on the North American market after the management buyout by European executives of Smead Europe, reported on the ISG site yesterday.
"Despite the many successes we've experienced in Europe in introducing new products, in the end the needs of each individual country were just too different from one another to allow us to build the critical mass necessary to achieve all the goals we set for ourselves," reported Avent.
After the completion of the sale, Smead will operate primarily in the U.S. and Canada where it enjoys market leadership in the filing and organizing sector.
Smead North America will continue collaborating with the new Company, which will be known as The Atlanta Group and will be led by Reiner Eckhardt and Hans Eisink.