Headlines

Office Depot Rejects Staples Offer

The retailers continue to negotiate ways the two might combine retail operations

Published

3 years ago

January 20, 2021

VMSD Staff

Office Depot (Boca Raton, Fla.) has reportedly turned down a $2.1 billion acquisition offer from Sycamore-owned Staples (Framingham, Mass.), according to Retail Dive. However, Office Depot Chair Joseph Vassalluzzo did outline two potential ways forward, including a joint venture or an acquisition by Staples for a price that enables shareholders to benefit.

Vassalluzzo said in a letter: "[The Office Depot board] unanimously concluded that there is a more compelling path forward … [including] combining our retail and consumer-facing ecommerce operations with Staples under the right set of circumstances and on mutually acceptable terms."

Office Depot is moving ahead with a sale of CompuCom, after a review of the IT services unit, which the retailer bought in 2017.

MasterClass: ‘Re-Sparkling’ Retail: Using Store Design to Build Trust, Faith and Brand Loyalty

HOW CAN WE EMPOWER and inspire senior leaders to see design as an investment for future retail growth? This session, led by retail design expert Ian Johnston from Quinine Design, explores how physical stores remain unmatched in the ability to build trust, faith, and loyalty with your customers, ultimately driving shareholder value.

Presented by:
Ian Johnston
Founder and Creative Director, Quinine Design