Staples once again is moving to purchase Office Depot, which would consolidate the office superstore channel in similar vein to what has occurred in the electronic and home furnishings specialty retail channels, where Best Buy and Bed, Bath & Beyond dominate on the national scene.
Negatively impacted by a decline in same-store sales and lower sales in its CompuCom division, Office Depot reported a drop in revenue in the second quarter.
Office Depot recently expanded its print and copy services with the placement of thousands of new Xerox units, from walk-up multifunction printers to high-end production devices and personalization software, in retail stores and regional production facilities nationwide.
Staples and Essendant have extended the expiration time of their previously announced tender offer, the companies have announced.
Sycamore Partners has completed its acquisition of Staples, Inc.
Some 13 months after Staples’ effort to acquire Office Depot was quashed by a Federal judge, the Massachusetts-based office superstore may soon have a new owner.