A Coalville company employing more than 1,000 workers is to have a listed Japanese group as its majority shareholder.

Antalis has its UK headquarters in Coalville and its brands include Xerox, Cocoon, Digigreen and Novotech.

Now Insider Media reports that Kokusai Pulp and Paper is to become the majority shareholder in the company which has bases at Bardon Business Park and Hilltop Industrial estate.

And it has been described as a 'new chapter' for the company.

The Tokyo-based business will take over the shareholding from Sequana and Bpifrance Participations and conclude a restructuring agreement with Antalis and the lenders of its existing syndicated credit facility.

Sequana currently holds a 75.2 per cent stake in Antalis which also has bases in Belfast, Leeds, Manchester, Norwich, Warrington, Winsford, Spalding, Coventry, Northampton, Bristol, Dartford, Newton Abbot, London, Tring, Dublin and Livingston, Scotland.

Antalis employs more than 1,100 people in the UK and Kokusai Pulp and Paper is to pay 0.10 euros per share to Sequana and 0.40 euros per share to Bpifrance Participations.

KPP is a Japanese paper distribution group with operations in Japan, Asia and Australia, with sales of approximately €3.2bn. Its shares are listed on the Tokyo Stock Exchange.

A restructuring agreement has also been signed between KPP, Antalis and the lenders of Antalis' existing syndicated credit facility, providing for the refinancing of €100m of the outstanding facility amount through a new financing granted by Mizuho Bank, and a write-off of the remainder.

The newly formed group is expected to represent an annual turnover of approximately €5.3bn, including 3.3 million tons of paper sold. 

Antalis chief executive Hervé Poncin said: "Antalis, its management and employees are very pleased with this combination with KPP which will allow it to open a new chapter in its international evolution

"It will provide Antalis with the necessary means to support its development and strengthen its market position."

Chairman Pascal Lebard added: "Antalis' Board of Directors has favourably welcomed KPP's backing which should enable the company to have a long-term shareholder that will support its future development.

"This combination, moreover with a distribution company, puts an end to the search for a new shareholder for Antalis."