Cornet Vincent Ségurel assists Patrick Mulliez and his Family Office in the sale and reorganisation of Top Office

Published on 20 july 2023

The chain of office supplies and equipment shops is changing hands, selling off its shops and operating resources and becoming a franchise network.

Created by Patrick Mulliez and André Guilbert in 1996, Top Office is a retail chain offering individuals and professionals a place to find all their office supplies and equipment, as well as reprographics services. Patrick Mulliez and his Family Office, which had previously owned the company, wanted to pass on the business while ensuring its long-term future and enabling it to grow. They entered into negotiations with a long-standing Top Office affiliate and the Adveo Group, one of the European leaders in the sector, which already owns the Calipage, Buro+ and Plein Ciel banners in France, with a view to taking over its activities.

Adveo France is acquiring Top Office's operating resources, including the group's intellectual property assets, and is taking over the management of the new franchise network. Top Office's branch shops are being sold to entrepreneur Jérôme Lorie, who has been a franchisee-manager with the company for the past 9 years. He is continuing his entrepreneurial adventure in partnership with the company's executives and its current chairman through the company New Top Développement.

This operation, which safeguards the long-term future of the Top Office business and brand, is in line with the strategic plan drawn up in conjunction with the company's family shareholders, which focuses on 2 requirements: a strong social ambition, and providing the network with the means to develop further.

"This is a historic turning point that accelerates Top Office's transformation and reconquest project. This ambitious project will offer growth prospects for all the company's current and future players, while continuing to serve the brand's customers " says Samuel Barnabas, Chairman of Top Office.

With a presence throughout France, Top Office employs 260 people and generated sales of over €70 million in 2022 from its 33 branch and affiliated shops. A leader in France and the Benelux countries, the Adveo group and its regional logistics centres offer more than 25,000 products for delivery within 24/48 hours anywhere in the country, and generated sales of €180 million in 2022.

Participants

Transferor: Patrick Mulliez (founder), Family Office

Advéo France : Anna Bordes (President)

New Top Développement : Jérôme Lorie (President)

Top Office : Samuel Barnabas (President)

 

Advisors :

Attorney for Sellers : Cornet Vincent Ségurel

  • Corporate Law : Benjamin Chevalier (associate Attorney) ; Clara Servan, Hélène Mairesse, Lucie Gruson, Marie Amourelle (Attorney) ; Julie Alexandre (paralegal)
  • Trade Law : Amélie Poulain, Thomas Deschryver (associate Attorney), Morgane Pilate, Marion Raes (attorney)
  • Tax Law : Alfred Lortat-Jacob (associate Attorney)

Attorney for Adveo : August Debouzy

  • Coporate Law : Laurent Cotret (associate Attorney) ; Rebecca Fraguas (Attorney)
  • Trade Law : Alexandra Berg-Moussa (associate Attorney) 

Attorney New Top Development : Saint-Gal Attorney (Sophie Saint Gal, associate)

Strategic advisor for Buyers : Bearing Point

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