**The big picture:** Antalis has signed a binding agreement to acquire Papyrus' paper distribution activities in Eastern Europe, Switzerland, and Germany. **Why it matters:** This acquisition involves the transfer of 255 employees, highlighting significant workforce integration and potential talent management challenges across multiple European countries. **Between the lines:** - The acquired businesses generated approximately €215 million in net sales in FY2025. - The deal is subject to customary closing conditions and competition authority approvals. - The acquired operations include 12 warehouses and serve over 13,000 customers. **Staffing & HR impact:** The integration of 255 employees across diverse regions will require careful HR planning for talent retention, cultural alignment, and compliance with varying labor laws. This could impact recruiter mobility and operational efficiency during the transition. **The bottom line:** This deal underscores the complexities of cross-border M&A, particularly concerning workforce integration and regional economic growth implications.