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Office Depot Owner Spins Off B2B Concern

The newly formed company is expected to be created in 2022  
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Office Depot Owner Spins Off B2B Concern
Sterling, USA - April 4, 2018: Office Depot store in Fairfax county, Virginia shop exterior entrance with sign, logo, doors , couple walking out
Sterling, USA – April 4, 2018: Office Depot store in Fairfax county, Virginia shop exterior entrance with sign, logo, doors , couple walking out

ODP Corp., owner of Office Depot (Boca Raton, Fla.) plans to spin off its B2B distribution platform into a new company, according to CNBC. The move is expected to be completed in the first half of 2022.

The separate company will comprise ODP’s business solutions division as well as the Canadian office supply retailer Grand & Troy.

Earlier this year, ODP rejected an unsolicited offer by rival Staples (Framingham, Mass.) to purchase some of its assets for $2.1 billion.

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Jennifer Acevedo is the editor-in-chief and associate publisher of VMSD magazine.

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