Headlines

Staples Buys Office Depot

Both chains plan store closures

Published

9 years ago

February 4, 2015

Sarah Whitman

Staples (Framingham, Mass.) announced it would spend about $6 billion to buy rival Office Depot (Boca Raton, Fla.) yesterday. The deal comes about a year after Office Depot merged with OfficeMax.

The latest merger is pending approval from the Federal Trade Commission.

Staples and Office Depot each say they will move forward with plans to close stores this year, according to U.S. News & World Report. Staples previously announced that it would close up to 225 stores by the end of 2015. Office Depot ceo Roland Smith said the chain is looking to close 135 stores this year.

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