Headlines

Staples to be Acquired by Sycamore Partners

Private equity firm enters $6.9 billion bid to acquire office-supply chain

Published

7 years ago

June 30, 2017

Staples (Framingham, Mass.) has struck a deal with Sycamore Partners (New York). The private equity firm has agreed to buy the office-supply retailer for about $6.9 billion, having been attracted to the company’s “iconic brand,” reports Bloomberg.

The deal is slated to close by the end of 2017 and will be Sycamore’s largest deal to date.

Staples’ Chief Executive Officer Shira Goodman said of the deal, “With the support of Sycamore and as a private company, we will be better equipped to continue to transform to meet changing customer needs in an ever-evolving and competitive marketplace.”

The move comes a year after the retailer’s failed attempt to buy and merge with Office Depot (Boca Raton, Fla.).

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