De La Rue, the historic UK firm known for printing banknotes for the Bank of England, is set to be acquired by US-based investment group Atlas Holdings in a £263 million all-cash deal.
This marks the latest in a series of established British companies to exit the London stock market.
Atlas, which specialises in industrial sector investments, has offered 130p per share. De La Rue’s board said it “intends to recommend unanimously” that shareholders approve the acquisition.
Founded over two centuries ago, De La Rue produces banknotes, tax stamps, brand protection labels, security features, and passport bio-data pages for clients in 140 countries.
The agreement comes after months of speculation surrounding De La Rue’s future. The company received a £245 million bid in January from a consortium led by City financier Edi Truell and subsequently put itself up for sale in February.
In a statement, Atlas said it believes taking De La Rue private would allow for greater investment and strategic growth, benefiting from being part of a larger, well-capitalised business.
Founded in 2002 and based in Connecticut, Atlas has a portfolio of 27 manufacturing and distribution businesses. It has already secured irrevocable commitments supporting the deal from shareholders representing 40.3% of De La Rue’s shares.
As part of its restructuring, De La Rue is also divesting its authentication division in a separate £300 million transaction with US industrial tech firm Crane NXT, scheduled to complete on 1 May.
De La Rue has faced persistent challenges in recent years, including declining global demand for cash—exacerbated by the pandemic—and a series of profit warnings.
