Thursday December 20th, 2012 - 5:18PM
Today, Office Depot announced that it had entered into an agreement to sell its namesake business in Hungary to Central Fund Venture Capital Fund. The transaction includes an agreement that permits Central Fund to use Office Depot's trade names, obtain sourcing services and continue to support Office Depot's global customers in Hungary, the retailer stated.
Central Fund Venture Capital Fund is the first privately owned Venture Capital Fund in Hungary, Office Depot noted, and it invests in small- and medium-sized companies in the country.
Office Depot Hungary started as a licensed operation in 1997 and became a whole owned company subsidiary in 2004. The operation serves a wide variety of Hungarian customers including small- and medium-sized businesses and global accounts, Office Depot related.