Office Depot Completes Sale of European Operations
January 02 2017 - 7:30AM
Business Wire
Office Depot, Inc. (NASDAQ:ODP), a leading global provider
of office supplies and services, today announced the
completion of the sale of its European business to The
AURELIUS Group. This transaction is part of the company's recently
announced international divestiture strategy to focus on
opportunities in its North American business.
About Office Depot, Inc.
Office Depot, Inc. is a leading global provider of products,
services, and solutions for every workplace – whether your
workplace is an office, home, school or car.
Office Depot, Inc. is a resource and a catalyst to help
customers work better. We are a single source for everything
customers need to be more productive, including the latest
technology, core office supplies, print and document services,
business services, facilities products, furniture, and school
essentials.
As of our most recent filed annual report for fiscal year ended
2015, the Company had annual sales of approximately $14 billion,
employed approximately 49,000 associates, and served consumers and
businesses in 59 countries with approximately 1,800 retail stores,
award-winning e-commerce sites and a dedicated business-to-business
sales organization – all delivered through a global network of
wholly owned operations, franchisees, licensees and alliance
partners. The Company operates under several banner brands
including Office Depot, OfficeMax and Grand & Toy. The
company’s portfolio of exclusive product brands include TUL, Foray,
Brenton Studio, Ativa, WorkPro, Realspace and HighMark.
Office Depot, Inc.’s common stock is listed on the NASDAQ Global
Select Market under the symbol “ODP”.
All trademarks, service marks and trade names of Office Depot,
Inc. and OfficeMax Incorporated used herein are trademarks or
registered trademarks of Office Depot, Inc. and OfficeMax
Incorporated, respectively. Any other product or company names
mentioned herein are the trademarks of their respective owners.
FORWARD LOOKING STATEMENTS
This communication may contain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. These statements or disclosures may discuss goals, intentions
and expectations as to future trends, plans, events, results of
operations or financial condition, or state other information
relating to, among other things, Office Depot, based on current
beliefs and assumptions made by, and information currently
available to, management. Forward-looking statements generally will
be accompanied by words such as “anticipate,” “believe,” “plan,”
“could,” “estimate,” “expect,” “forecast,” “guidance,” “intend,”
“may,” “possible,” “potential,” “predict,” “project,” “propose” or
other similar words, phrases or expressions, or other variations of
such words. These forward-looking statements are subject to various
risks and uncertainties, many of which are outside of Office
Depot’s control. There can be no assurances that Office Depot will
realize these expectations or that these beliefs will prove
correct, and therefore investors and stockholders should not place
undue reliance on such statements.
Factors that could cause actual results to differ materially
from those in the forward-looking statements include, among other
things, risks related to the termination of the Staples
acquisition, disruption in key business activities or any impact on
Office Depot’s relationships with third parties as a result of the
announcement of the termination of the Staples Merger Agreement;
unanticipated changes in the markets for Office Depot’s business
segments; the inability to realize expected benefits from the
disposition of the European operations; fluctuations in currency
exchange rates, unanticipated downturns in business relationships
with customers; competitive pressures on Office Depot’s sales and
pricing; increases in the cost of material, energy and other
production costs, or unexpected costs that cannot be recouped in
product pricing; the introduction of competing technology products
and services; unexpected technical or marketing difficulties;
unexpected claims, charges, litigation, dispute resolutions or
settlement expenses; new laws and governmental regulations. The
foregoing list of factors is not exhaustive. Investors and
stockholders should carefully consider the foregoing factors and
the other risks and uncertainties described in Office Depot’s
Annual Reports on Form 10-K, as amended, and Quarterly Reports on
Form 10-Q filed with the Securities and Exchange Commission, as
well as the Form 8-K filed today with respect to the proposed
transaction. Office Depot does not assume any obligation to update
or revise any forward-looking statements.
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version on businesswire.com: http://www.businesswire.com/news/home/20170102005033/en/
Office Depot, Inc.Richard Leland, 561-438-3796Investor
RelationsRichard.Leland@officedepot.comorKaren Denning,
630-438-7445Media RelationsKaren.Denning@officedepot.com
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