De La Rue: Difference between revisions

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| logo = De La Rue logo.svg
| logo = De La Rue logo.svg
| logo_size = 100px
| logo_size = 100px
| type = [[Public limited company]]
| type = [[Privately held company|Private]]
| traded_as = {{lse|DLAR}}
| traded_as =  
| key_people = {{unbulleted list|  
| key_people = {{unbulleted list|  
Clive Vacher {{small|(CEO)}}| Clive Whiley {{small|(Chairman)}}}}
Clive Vacher {{small|(CEO)}}| Clive Whiley {{small|(Chairman)}}}}
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| operating_income = {{increase}} £5.8&nbsp;million (2024)<ref name=ar/>
| operating_income = {{increase}} £5.8&nbsp;million (2024)<ref name=ar/>
| net_income = {{increase}} £(19.1)&nbsp;million (2024)<ref name=ar/>
| net_income = {{increase}} £(19.1)&nbsp;million (2024)<ref name=ar/>
| owner = [[Atlas Holdings]]
| num_employees = 1,674 (2024)<ref name=ar/>
| num_employees = 1,674 (2024)<ref name=ar/>
| parent =  
| parent =  
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}}
}}


'''De La Rue plc''' ({{IPAc-en|UK|ˈ|d|ɛ|l|ə|r|uː}}, {{IPAc-en|US|ˌ|d|ɛ|l|ə|ˈ|r|uː}}) is a British company headquartered in [[Basingstoke]], [[England]], that produces secure digital and physical protections for goods, trade, and identities in 140 countries.<ref name=ar/> It sells to governments, central banks, and businesses. Its authentication division provides [[Excise|government revenue technology]], [[brand protection]], and ID security, such as polycarbonate data pages for passports. Its currency division designs and produces [[banknotes]], secure [[polymer substrate]] and banknote security features. This includes [[security hologram]]s, [[security thread]]s and [[security printing|security printed]] products for [[central banks]] and currency issuing authorities. It is listed on the [[London Stock Exchange]]. It is the world's largest commercial printer of banknotes.<ref name="Newcomb">{{cite web |last1=Newcomb |first1=Alyssa |title=World's largest printer of money is running out of money |url=https://www.nbcnews.com/business/consumer/world-s-largest-printer-money-running-out-money-n1094426 |website=nbcnews.com |access-date=11 February 2023 |date=December 3, 2019 |quote=It is the largest commercial printer in the world, produces passports for 40 countries, and has designed 36 percent of all banknote denominations in circulation...}}</ref>
'''De La Rue plc''' ({{IPAc-en|UK|ˈ|d|ɛ|l|ə|r|uː}}, {{IPAc-en|US|ˌ|d|ɛ|l|ə|ˈ|r|uː}}) is a British company headquartered in [[Basingstoke]], [[England]] that produces secure digital and physical protections for goods, trade and identities in 140 countries.<ref name=ar/> It sells to governments, central banks, and businesses. Its authentication division provides [[Excise|government revenue technology]], [[brand protection]], and ID security, such as polycarbonate data pages for passports.


In April 2025, the company agreed a £263 million takeover by [[Atlas Holdings]], which is subject to shareholder and regulatory approval and set to be completed in the third quarter of 2025.<ref name=":3" />
Its currency division designs and produces [[banknotes]], secure [[polymer substrate]] and banknote security features. This includes [[security hologram]]s, [[security thread]]s and [[security printing|security printed]] products for [[central banks]] and currency issuing authorities. It is the world's largest commercial printer of banknotes.<ref name="Newcomb">{{cite web |last1=Newcomb |first1=Alyssa |title=World's largest printer of money is running out of money |url=https://www.nbcnews.com/business/consumer/world-s-largest-printer-money-running-out-money-n1094426 |website=nbcnews.com |access-date=11 February 2023 |date=December 3, 2019 |quote=It is the largest commercial printer in the world, produces passports for 40 countries, and has designed 36 percent of all banknote denominations in circulation...}}</ref> Since July 2025, the company has been under private ownership by [[Atlas Holdings]].<ref name=":3" /><ref name=":4">{{Cite web |title=Shareholder Information |url=https://www.delarue.com/investors/shareholder-information |access-date=2025-07-14 |website=www.delarue.com |language=en-gb}}</ref>


==History==
==History==
The company was founded by [[Thomas de la Rue]], who moved from [[Guernsey]] to [[London]] in 1821 and set up in business as a Leghorn straw hat maker, then as a stationer and printer.<ref name="history">{{cite web |title=Our History – De La Rue |url=https://www.delarue.com/about-us/our-history-orig |website=www.delarue.com |language=en-gb |access-date=20 May 2020 |archive-date=9 May 2023 |archive-url=https://web.archive.org/web/20230509213515/https://www.delarue.com/about-us/our-history-orig |url-status=dead }}</ref> In 1831 he secured a [[Royal Warrant of Appointment (United Kingdom)|Royal Warrant]] for his business to produce playing cards. In 1855 it started printing postage stamps and in 1860 banknotes.<ref name="history"/> The company's first banknotes were made for [[British Mauritius|Mauritius]].<ref>{{cite web |title=UK banknote printer fears for its future |url=https://www.bbc.com/news/business-50557097 |website=BBC News |date=26 November 2019}}</ref> In 1896, the family partnership was converted into a private company.<ref name="history"/>
The company was founded by [[Thomas de la Rue]], who moved from [[Guernsey]] to [[London]] in 1821 and set up in business as a Leghorn straw hat maker, then as a stationer and printer.<ref name="history">{{cite web |title=Our History – De La Rue |url=https://www.delarue.com/about-us/our-history-orig |website=www.delarue.com |language=en-gb |access-date=20 May 2020 |archive-date=9 May 2023 |archive-url=https://web.archive.org/web/20230509213515/https://www.delarue.com/about-us/our-history-orig |url-status=dead }}</ref> In 1831 he secured a [[Royal Warrant of Appointment (United Kingdom)|Royal Warrant]] for his business to produce playing cards. In 1855 it started printing postage stamps and in 1860 banknotes.<ref name="history"/> The company's first banknotes were made for [[British Mauritius|Mauritius]].<ref>{{cite web |title=UK banknote printer fears for its future |url=https://www.bbc.com/news/business-50557097 |website=BBC News |date=26 November 2019}}</ref> In 1896, the family partnership was converted into a private company.<ref name="history"/>


In 1921, the de la Rue family sold their interests. The company was first listed on the [[London Stock Exchange]] in 1947.<ref name="history"/> Then called ''Thomas De La Rue & Company, Limited'', it changed its name in 1958 to ''The De La Rue Company Limited''. A takeover bid for De La Rue was made by the [[Rank Organisation]] in 1968, but this was rejected by the Monopolies commission as being against the public interest.<ref>{{usurped|1=[https://web.archive.org/web/20090304105855/http://www.competition-commission.org.uk/rep_pub/reports/1960_1969/fulltext/054c02.pdf Competition Commission Reports]}}</ref> In 1991 the company's name was changed again – this time to De La Rue plc.<ref name="history"/>
In 1921, the de la Rue family sold their interests. The company was first listed on the London Stock Exchange in 1947.<ref name="history"/> Then called ''Thomas De La Rue & Company, Limited'', it changed its name in 1958 to ''The De La Rue Company Limited''. A takeover bid for De La Rue was made by the [[Rank Organisation]] in 1968, but this was rejected by the Monopolies commission as being against the public interest.<ref>{{usurped|1=[https://web.archive.org/web/20090304105855/http://www.competition-commission.org.uk/rep_pub/reports/1960_1969/fulltext/054c02.pdf Competition Commission Reports]}}</ref> In 1991 the company's name was changed again – this time to De La Rue plc.<ref name="history"/>


In 1965 De La Rue established a joint venture with the Italian printer and inventor [[Gualtiero Giori]] called De La Rue Giori. Based in Switzerland, the company specialized in building banknote printing equipment.<ref>''International Directory of Company Histories'', Volume 34 (2000), p. 141</ref> The company printed banknotes for the [[Central Bank of Iran]] during the 1960s.<ref>{{Citation|last1=Shargi|first1=Ali|title=ESKENĀS|date=15 December 1998|url=http://www.iranicaonline.org/articles/eskenas|volume=VIII/6|pages=615–624|publisher=Encyclopædia Iranica}}</ref>
In 1965 De La Rue established a joint venture with the Italian printer and inventor [[Gualtiero Giori]] called De La Rue Giori. Based in Switzerland, the company specialized in building banknote printing equipment.<ref>''International Directory of Company Histories'', Volume 34 (2000), p. 141</ref> The company printed banknotes for the [[Central Bank of Iran]] during the 1960s.<ref>{{Citation|last1=Shargi|first1=Ali|title=ESKENĀS|date=15 December 1998|url=http://www.iranicaonline.org/articles/eskenas|volume=VIII/6|pages=615–624|publisher=Encyclopædia Iranica}}</ref>


In 1995, the company acquired [[Portals Limited]] which had been listed on the London stock market since 1904. For almost 300 years Portals had been one of the leading banknote paper manufacturers in the world, having manufactured banknote paper for the Bank of England since 1724.<ref>{{cite news|url=http://www.economist.com/node/21560275|title=Cash machine|newspaper=The Economist|date=11 August 2012|access-date=28 March 2015}}</ref>
In 1995, the company acquired [[Portals Limited]] which had been listed on the London stock market since 1904. For almost 300 years Portals had been one of the leading banknote paper manufacturers in the world, having manufactured banknote paper for the Bank of England since 1724.<ref>{{cite news|url=https://www.economist.com/britain/2012/08/11/cash-machine|title=Cash machine|newspaper=The Economist|date=11 August 2012|access-date=28 March 2015}}</ref>


In 1997, De La Rue acquired [[Harrison and Sons]], the stamp and banknote printers based in [[High Wycombe]]. The factory closed permanently in 2003.<ref>{{cite web|url=http://www.yourlocalguardian.co.uk/news/215890.print/|title=Up to 350 jobs to go at printing firm|work=Your Local Guardian|date=7 October 2002|access-date=28 March 2015}}</ref>
In 1997, De La Rue acquired [[Harrison and Sons]], the stamp and banknote printers based in [[High Wycombe]]. The factory closed permanently in 2003.<ref>{{cite web|url=http://www.yourlocalguardian.co.uk/news/215890.print/|title=Up to 350 jobs to go at printing firm|work=Your Local Guardian|date=7 October 2002|access-date=28 March 2015}}</ref>
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In August 2014, the company announced the appointment of Martin Sutherland (formerly of [[BAE Systems|BAE Systems Applied Intelligence]]) as chief executive officer.<ref>{{cite web|url=https://www.telegraph.co.uk/finance/newsbysector/banksandfinance/11063105/Banknote-printer-De-La-Rue-appoints-BAEs-Sutherland-as-boss.html|work=The Telegraph|title=Banknote printer De La Rue appoints BAE's Sutherland as boss|date=29 August 2014|access-date=8 November 2014}}</ref>
In August 2014, the company announced the appointment of Martin Sutherland (formerly of [[BAE Systems|BAE Systems Applied Intelligence]]) as chief executive officer.<ref>{{cite web|url=https://www.telegraph.co.uk/finance/newsbysector/banksandfinance/11063105/Banknote-printer-De-La-Rue-appoints-BAEs-Sutherland-as-boss.html|work=The Telegraph|title=Banknote printer De La Rue appoints BAE's Sutherland as boss|date=29 August 2014|access-date=8 November 2014}}</ref>


In 2016, the Cash Handling division (Cash Processing Systems) was sold to Privet Capital. In December 2016, the company announced it had purchased the [[DuPont]] Authentication division.<ref>{{Cite web|url=https://www.healthcarepackaging.com/home/press-release/13292404/de-la-rue-to-acquire-dupont-authentication-business|title=De La Rue to Acquire DuPont Authentication Business {{!}} Healthcare Packaging|website=www.healthcarepackaging.com|access-date=4 January 2017}}</ref><ref>{{Cite news|url=http://www.cityam.com/255471/rue-shares-rise-after-says-acquire-dupont-authentication|title=De La Rue shares rise after it says it will acquire DuPont Authentication|last=Goldsmith|first=Courtney|date=12 December 2016|access-date=4 January 2017}}</ref>
In 2016, the Cash Handling division (Cash Processing Systems) was sold to Privet Capital. In December, the firm announced it had purchased the [[DuPont]] Authentication division.<ref>{{Cite web|url=https://www.healthcarepackaging.com/home/press-release/13292404/de-la-rue-to-acquire-dupont-authentication-business|title=De La Rue to Acquire DuPont Authentication Business {{!}} Healthcare Packaging|website=www.healthcarepackaging.com|access-date=4 January 2017}}</ref><ref>{{Cite news|url=http://www.cityam.com/255471/rue-shares-rise-after-says-acquire-dupont-authentication|title=De La Rue shares rise after it says it will acquire DuPont Authentication|last=Goldsmith|first=Courtney|date=12 December 2016|access-date=4 January 2017}}</ref>


In March 2018, the company sold the paper business. De La Rue retained a 10% share in the new business, [[Portals International Limited]].<ref>{{cite web |title=DE LA RUE PLC Completion of paper transaction |url=https://polaris.brighterir.com/public/de_la_rue/news/rns/story/xp0p7mw |website=polaris.brighterir.com}}</ref> In April 2018, the company decided to appeal against the decision of the British government to manufacture passports in France.<ref>{{Cite web|url=https://www.theguardian.com/business/2018/apr/02/post-brexit-passports-contract-de-la-rue-to-appeal-against-decision|title=Post-Brexit passports contract: De La Rue to appeal against decision|last=Elgot|first=Jessica|date=2018-04-02|website=The Guardian|language=en|access-date=2018-04-03}}</ref> It subsequently decided against appealing.<ref>{{cite web |last1=Monaghan |first1=Angela |title=De La Rue drops passport appeal and issues profit warning |url=https://www.theguardian.com/business/2018/apr/18/de-la-rue-drops-passport-appeal-issues-profit-warning |website=The Guardian |date=18 April 2018}}</ref>
In March 2018, the company sold the paper business; De La Rue retained a 10% share in the new business, [[Portals International Limited]].<ref>{{cite web |title=DE LA RUE PLC Completion of paper transaction |url=https://polaris.brighterir.com/public/de_la_rue/news/rns/story/xp0p7mw |website=polaris.brighterir.com}}</ref> In April, it decided to appeal against the decision of the British government to manufacture passports in France.<ref>{{Cite web|url=https://www.theguardian.com/business/2018/apr/02/post-brexit-passports-contract-de-la-rue-to-appeal-against-decision|title=Post-Brexit passports contract: De La Rue to appeal against decision|last=Elgot|first=Jessica|date=2018-04-02|website=The Guardian|language=en|access-date=2018-04-03}}</ref> It subsequently decided against appealing.<ref>{{cite web |last1=Monaghan |first1=Angela |title=De La Rue drops passport appeal and issues profit warning |url=https://www.theguardian.com/business/2018/apr/18/de-la-rue-drops-passport-appeal-issues-profit-warning |website=The Guardian |date=18 April 2018}}</ref>


In October 2019 the company sold its Identity Solutions business to [[HID Global]] for £42m.<ref>{{cite web |last1=Keller |first1=Sinead |title=De La Rue announces sale of Identity Solutions Business |url=https://www.delarue.com/media-center/de-la-rue-announces-sale-of-identity-solutions-business |website=www.delarue.com |language=en-gb}}</ref>
In October 2019 the company sold its Identity Solutions business to [[HID Global]] for £42m.<ref>{{cite web |last1=Keller |first1=Sinead |title=De La Rue announces sale of Identity Solutions Business |url=https://www.delarue.com/media-center/de-la-rue-announces-sale-of-identity-solutions-business |website=www.delarue.com |language=en-gb |access-date=26 November 2019 |archive-date=7 April 2022 |archive-url=https://web.archive.org/web/20220407114555/https://www.delarue.com/media-center/de-la-rue-announces-sale-of-identity-solutions-business |url-status=dead }}</ref>


On 26 July 2019, the [[Serious Fraud Office (United Kingdom)|Serious Fraud Office]] opened an investigation into De La Rue plc for suspected corruption in [[South Sudan]]. They later decided to close the case.<ref>{{Cite web|url=https://www.sfo.gov.uk/cases/de-la-rue-plc/|title=De La Rue Plc}}</ref><ref>{{Cite web|url=https://www.sfo.gov.uk/2020/06/16/sfo-closes-investigation-into-de-la-rue/|title=SFO closes investigation into De La Rue Plc|date=16 June 2020}}</ref>
On 26 July 2019, the [[Serious Fraud Office (United Kingdom)|Serious Fraud Office]] opened an investigation into De La Rue plc for suspected corruption in [[South Sudan]]. They later decided to close the case.<ref>{{Cite web|url=https://www.sfo.gov.uk/cases/de-la-rue-plc/|title=De La Rue Plc}}</ref><ref>{{Cite web|url=https://www.sfo.gov.uk/2020/06/16/sfo-closes-investigation-into-de-la-rue/|title=SFO closes investigation into De La Rue Plc|date=16 June 2020}}</ref>
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In April 2023, it was announced that chairman Kevin Loosemore was stepping down in May 2023 to "draw a line under recent speculation surrounding the leadership of the company".<ref name=":1">{{Cite news |last=Ralph |first=Alex |title=De La Rue chairman Kevin Loosemore resigns |newspaper=[[The Times]] |language=en |url=https://www.thetimes.com/business-money/economics/article/de-la-rue-chairman-kevin-loosemore-resigns-k9d0krh8d|date=15 April 2023 |access-date=21 April 2023 |issn=0140-0460}}</ref><ref>{{Cite web |title=London Stock Exchange {{!}} London Stock Exchange |url=https://www.londonstockexchange.com/news-article/DLAR/resignation-of-chairman-and-accelerated-search/about:blank |access-date=2023-04-21 |website=www.londonstockexchange.com |language=en}}</ref>  Following the launch of a fast-track search for a replacement, the company appointed Clive Wiley in May 2023.<ref name=":1" /><ref>{{Cite web |last=Rich |first=Louise |title=Clive Whiley appointed non-executive Chairman |url=https://www.delarue.com/media-center/clive-whylie-appointed-non-executive-chairman |access-date=2024-06-18 |website=www.delarue.com |language=en-gb}}</ref>
In April 2023, it was announced that chairman Kevin Loosemore was stepping down in May 2023 to "draw a line under recent speculation surrounding the leadership of the company".<ref name=":1">{{Cite news |last=Ralph |first=Alex |title=De La Rue chairman Kevin Loosemore resigns |newspaper=[[The Times]] |language=en |url=https://www.thetimes.com/business-money/economics/article/de-la-rue-chairman-kevin-loosemore-resigns-k9d0krh8d|date=15 April 2023 |access-date=21 April 2023 |issn=0140-0460}}</ref><ref>{{Cite web |title=London Stock Exchange {{!}} London Stock Exchange |url=https://www.londonstockexchange.com/news-article/DLAR/resignation-of-chairman-and-accelerated-search/about:blank |access-date=2023-04-21 |website=www.londonstockexchange.com |language=en}}</ref>  Following the launch of a fast-track search for a replacement, the company appointed Clive Wiley in May 2023.<ref name=":1" /><ref>{{Cite web |last=Rich |first=Louise |title=Clive Whiley appointed non-executive Chairman |url=https://www.delarue.com/media-center/clive-whylie-appointed-non-executive-chairman |access-date=2024-06-18 |website=www.delarue.com |language=en-gb}}</ref>


In February 2024, it was announced that the company had been contracted, alongside the [[Bank of England]], to design new bank notes carrying [[Charles III|King Charles III's]] portrait.<ref>{{Cite web |title=Bank of England's new King Charles notes to enter circulation from 5 June |url=https://news.sky.com/story/king-charles-banknotes-to-enter-circulation-in-june-13076796 |access-date=2024-06-18 |website=Sky News |language=en}}</ref>
In February 2024, it was announced that the company had been contracted, alongside the Bank of England, to design new bank notes carrying [[Charles III|King Charles III's]] portrait.<ref>{{Cite web |title=Bank of England's new King Charles notes to enter circulation from 5 June |url=https://news.sky.com/story/king-charles-banknotes-to-enter-circulation-in-june-13076796 |access-date=2024-06-18 |website=Sky News |language=en}}</ref> In October, the company agreed to sell its authentication business to Crane NXT for £300 million.<ref>{{cite news|url=https://www.printweek.com/content/news/crane-nxt-completes-300m-dlr-authentication-buy|title=Crane NXT completes £300m DLR Authentication buy|date=1 May 2025|newspaper=Printweek|access-date=19 November 2025}}</ref>


In October 2024, the company sold its authentication business to Crane NXT for £300 million.<ref name=":3" />
In April 2025, the company's board agreed a takeover by Atlas Holdings which valued the business at £263 million.<ref>{{cite news|url=https://www.reuters.com/markets/deals/banknote-printer-de-la-rue-be-bought-347-million-by-atlas-holdings-2025-04-15/|title=Banknote printer De La Rue backs $347 million offer from U.S. firm Atlas|newspaper=Reuters|date=15 April 2025|access-date=16 April 2025}}</ref><ref name=":3">{{Cite news |last=Kelly |first=Maxine |last2=Levingston |first2=Ivan |last3=McDougall |first3=Mary |date=2025-04-15 |title=Banknote maker De la Rue agrees £263mn takeover by US buyout group Atlas |url=https://www.ft.com/content/b9f2560c-e5fa-4594-90c4-229fd47382f7 |access-date=2025-04-22 |work=Financial Times}}</ref> The deal was  completed on 3 July 2025, which resulted in the company delisting from the London Stock Exchange.<ref name=":4" />
 
In April 2025, the company's board agreed a takeover by Atlas Holdings which valued the business at £263 million.<ref>{{cite news|url=https://www.reuters.com/markets/deals/banknote-printer-de-la-rue-be-bought-347-million-by-atlas-holdings-2025-04-15/|title=Banknote printer De La Rue backs $347 million offer from U.S. firm Atlas|newspaper=Reuters|date=15 April 2025|access-date=16 April 2025}}</ref><ref name=":3">{{Cite news |last=Kelly |first=Maxine |last2=Levingston |first2=Ivan |last3=McDougall |first3=Mary |date=2025-04-15 |title=Banknote maker De la Rue agrees £263mn takeover by US buyout group Atlas |url=https://www.ft.com/content/b9f2560c-e5fa-4594-90c4-229fd47382f7 |access-date=2025-04-22 |work=Financial Times}}</ref> The deal is subject to shareholder and regulatory approval and set to be completed in the third quarter of 2025.<ref name=":3" />


==Operations==
==Operations==
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File:St. Christopher 1884 1 penny stamp sheet.jpg|A sheet of Stamps for [[Saint Christopher-Nevis-Anguilla|St. Christopher]], 1884.
File:St. Christopher 1884 1 penny stamp sheet.jpg|A sheet of Stamps for [[Saint Christopher-Nevis-Anguilla|St. Christopher]], 1884.
File:Confederate stamp Jefferson Davis 5c 1862 issue.jpg|[[Confederate States of America postage stamp]], 1862
File:Confederate stamp Jefferson Davis 5c 1862 issue.jpg|[[Confederate States of America postage stamp]], 1862
1980s_Malaysia_Ringgit_(De_La_Rue).png|One ringgit note of 1986
Tampak Belakang Uang Kertas 5 Ringgit Malaysia Seri Kedua Varian 1986.jpg|Five ringgit note of 1986
</gallery>
</gallery>


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[[Category:British brands]]
[[Category:British brands]]
[[Category:British companies established in 1821]]
[[Category:British companies established in 1821]]
[[Category:2025 mergers and acquisitions]]

Latest revision as of 00:48, 19 November 2025

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De La Rue plc (Template:IPAc-en, Template:IPAc-en) is a British company headquartered in Basingstoke, England that produces secure digital and physical protections for goods, trade and identities in 140 countries.[1] It sells to governments, central banks, and businesses. Its authentication division provides government revenue technology, brand protection, and ID security, such as polycarbonate data pages for passports.

Its currency division designs and produces banknotes, secure polymer substrate and banknote security features. This includes security holograms, security threads and security printed products for central banks and currency issuing authorities. It is the world's largest commercial printer of banknotes.[2] Since July 2025, the company has been under private ownership by Atlas Holdings.[3][4]

History

The company was founded by Thomas de la Rue, who moved from Guernsey to London in 1821 and set up in business as a Leghorn straw hat maker, then as a stationer and printer.[5] In 1831 he secured a Royal Warrant for his business to produce playing cards. In 1855 it started printing postage stamps and in 1860 banknotes.[5] The company's first banknotes were made for Mauritius.[6] In 1896, the family partnership was converted into a private company.[5]

In 1921, the de la Rue family sold their interests. The company was first listed on the London Stock Exchange in 1947.[5] Then called Thomas De La Rue & Company, Limited, it changed its name in 1958 to The De La Rue Company Limited. A takeover bid for De La Rue was made by the Rank Organisation in 1968, but this was rejected by the Monopolies commission as being against the public interest.[7] In 1991 the company's name was changed again – this time to De La Rue plc.[5]

In 1965 De La Rue established a joint venture with the Italian printer and inventor Gualtiero Giori called De La Rue Giori. Based in Switzerland, the company specialized in building banknote printing equipment.[8] The company printed banknotes for the Central Bank of Iran during the 1960s.[9]

In 1995, the company acquired Portals Limited which had been listed on the London stock market since 1904. For almost 300 years Portals had been one of the leading banknote paper manufacturers in the world, having manufactured banknote paper for the Bank of England since 1724.[10]

In 1997, De La Rue acquired Harrison and Sons, the stamp and banknote printers based in High Wycombe. The factory closed permanently in 2003.[11]

In early 2002, De La Rue purchased Sequoia Voting Systems, a California based company that was a large provider of electronic voting systems in the United States, from Jefferson Smurfit plc for $23 million.[12]

Following the Panama Papers leak, it was revealed that from 2002 until 2010, De La Rue had secretly contracted New Delhi businessman Somendra Khosla to obtain contracts in exchange for a 15% commission.[13][14][15][16]

In 2003, the company acquired the Debden based banknote printing operations of the Bank of England.[17] In 2003 and 2004 the company supplied banknotes to Iraq.[18][19]

The company was recognised by Hermann Simon as a role model for other small- to medium-sized businesses in his book Hidden Champions.[20]

The Highest Perfection, a history of De La Rue was published in 2011. Written by Peter Pugh for De La Rue, it covered the years 1712–2003.[21]

In August 2014, the company announced the appointment of Martin Sutherland (formerly of BAE Systems Applied Intelligence) as chief executive officer.[22]

In 2016, the Cash Handling division (Cash Processing Systems) was sold to Privet Capital. In December, the firm announced it had purchased the DuPont Authentication division.[23][24]

In March 2018, the company sold the paper business; De La Rue retained a 10% share in the new business, Portals International Limited.[25] In April, it decided to appeal against the decision of the British government to manufacture passports in France.[26] It subsequently decided against appealing.[27]

In October 2019 the company sold its Identity Solutions business to HID Global for £42m.[28]

On 26 July 2019, the Serious Fraud Office opened an investigation into De La Rue plc for suspected corruption in South Sudan. They later decided to close the case.[29][30]

In April 2023, it was announced that chairman Kevin Loosemore was stepping down in May 2023 to "draw a line under recent speculation surrounding the leadership of the company".[31][32] Following the launch of a fast-track search for a replacement, the company appointed Clive Wiley in May 2023.[31][33]

In February 2024, it was announced that the company had been contracted, alongside the Bank of England, to design new bank notes carrying King Charles III's portrait.[34] In October, the company agreed to sell its authentication business to Crane NXT for £300 million.[35]

In April 2025, the company's board agreed a takeover by Atlas Holdings which valued the business at £263 million.[36][3] The deal was completed on 3 July 2025, which resulted in the company delisting from the London Stock Exchange.[4]

Operations

File:Bank of England printing at Debden.jpg
The Bank of England printing facility at Debden, operated under contract by De La Rue, which prints Bank of England banknotes.

Banknotes

De La Rue sells high-security fully finished banknotes, polymer substrate and security features for over 69 national currencies.[37]

Security printing and papermaking

De La Rue also produces other secure documents, including tax stamps.[37]

Corporate affairs

The company's board is chaired by Clive Wiley.[38] Its non-executive board members are Nick Bray, Mark Hoad and Brian Small.[38]

Past products

Playing cards

In 1843, De La Rue's designs for playing cards are the basis for the modern standard design. The playing card business was sold to John Waddington in 1969.[39]

Postage stamps

The company has also printed postage stamps for the United Kingdom and some of its colonies, for Italy and for the Confederate States of America. The Cape of Good Hope triangulars were also printed by De La Rue & Co.[40]

Writing instruments

De La Rue developed the first practical fountain pen in 1881. Products were marketed under the "Onoto" brand. Production of fountain pens by De La Rue ceased in Britain in 1958 but continued for a few more years in Australia.[41]

Board games

During the 1930s De La Rue created a number of board games. These included a cricket game, Stumpz, which was produced in a number of different editions, and Round The Horn, a game which re-created the then annual race of grain-laden, square-rigged sailing cargo ships from Australia to London.[42]

Christmas cards

During the First World War, De La Rue made the Christmas Card included in the Princess Mary Christmas gift box.[43]

Gallery of products produced by De La Rue

See also

References

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  3. ↑ a b Script error: No such module "citation/CS1".
  4. ↑ a b Script error: No such module "citation/CS1".
  5. ↑ a b c d e Script error: No such module "citation/CS1".
  6. ↑ Script error: No such module "citation/CS1".
  7. ↑ Competition Commission ReportsTemplate:Category handler[<span title="Script error: No such module "string".">usurped]Script error: No such module "Check for unknown parameters".
  8. ↑ International Directory of Company Histories, Volume 34 (2000), p. 141
  9. ↑ Script error: No such module "citation/CS1".
  10. ↑ Script error: No such module "citation/CS1".
  11. ↑ Script error: No such module "citation/CS1".
  12. ↑ Sequoia Voting systems Receives Mandate from De La Rue, Kiosk Marketplace 29 May 2002
  13. ↑ Script error: No such module "citation/CS1".
  14. ↑ Script error: No such module "citation/CS1".
  15. ↑ Script error: No such module "citation/CS1".
  16. ↑ Script error: No such module "citation/CS1".
  17. ↑ Script error: No such module "citation/CS1".
  18. ↑ Script error: No such module "citation/CS1".
  19. ↑ Script error: No such module "citation/CS1".
  20. ↑ Simon, Hermann: Hidden Champions of the 21st Century : Success Strategies of unknown World Market Leaders. London: Springer, 2009.- Template:ISBN.
  21. ↑ Script error: No such module "citation/CS1".
  22. ↑ Script error: No such module "citation/CS1".
  23. ↑ Script error: No such module "citation/CS1".
  24. ↑ Script error: No such module "citation/CS1".
  25. ↑ Script error: No such module "citation/CS1".
  26. ↑ Script error: No such module "citation/CS1".
  27. ↑ Script error: No such module "citation/CS1".
  28. ↑ Script error: No such module "citation/CS1".
  29. ↑ Script error: No such module "citation/CS1".
  30. ↑ Script error: No such module "citation/CS1".
  31. ↑ a b Script error: No such module "citation/CS1".
  32. ↑ Script error: No such module "citation/CS1".
  33. ↑ Script error: No such module "citation/CS1".
  34. ↑ Script error: No such module "citation/CS1".
  35. ↑ Script error: No such module "citation/CS1".
  36. ↑ Script error: No such module "citation/CS1".
  37. ↑ a b Script error: No such module "citation/CS1".
  38. ↑ a b Script error: No such module "citation/CS1".
  39. ↑ Script error: No such module "citation/CS1".
  40. ↑ The first 50 years of postage stamp production were chronicled in John Easton's The De La Rue History of British and Foreign Postage Stamps 1855–1901 (Faber & Faber, London, 1958).
  41. ↑ Script error: No such module "citation/CS1".
  42. ↑ Script error: No such module "citation/CS1".
  43. ↑ Script error: No such module "Citation/CS1".

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External links

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