Japan Pulp and Paper Co. (JP), Japan, this week announced the acquisition of the remaining 49% of Gould Paper Corp., New York, N.Y., USA. The acquisition was effected through JP's consolidated U.S. subsidiary, Japan Pulp and Paper (U.S.A) Corp. (JPUSA), Los Angeles, Calif., and makes Gould a wholly owned subsidiary within the JP Group.

JP has been making efforts to strengthen and expand its global procurement and sales network, and as part of these efforts acquired a 51% share in the ownership of Gould in April 2010. By taking full ownership of Gould now, with its abundant human resources, experience, and business sites throughout Europe and North America, two markets considered highly important in JP's strategy for its non-Japan business segment, JP will be able to simultaneously strengthen its presence in both of these markets, increase the synergies within the entire JP Group, and further expand its business activities outside of Japan.

"We are very excited to now be wholly owned by JP," said David Berkowitz, president and CEO of Gould. "JP is the largest paper merchant in Japan and is publicly traded on the Tokyo Stock Exchange. Its strong support will allow us to continue to grow and flourish in the U.S. and throughout the World."

Gould Paper has revenues in excess of $1 billion and is one of North America's largest distributors of printing, publishing, and business papers. In addition, Gould, in concert with its parent company Japan Pulp and Paper, has offices in virtually every major city throughout the world with revenues in excess of $5 billion.