Office Depot acquires Complete Office Solutions for $150mn

By Pouyan Broukhim

According to OPI, American office supply retailer, Office Depot, has acquired a fellow industry operator, Complete Office Solutions (COS), in a deal worth $150mn.

Ted Nark, Co-founder of COS, confirmed to OPI that the company had been sold on 2 October, stating that he and his partners hadn’t been looking to sell the business, but Office Depot made them an offer that they ultimately viewed as being in the best interest of the business.

See also:

COS operates from three divisions located in Washington State, Wisconsin and California, with a total of 300 employees across the company, all of which will now be acquired by Office Depot.

COS will continue to run as a mid-market unit independently from Office Depot, retaining both its name and distribution facilities, with no plans currently to integrate the two businesses.

Both Essendant, formerly known as United stationers, and the Pinnacle Dealer Group will feel the impact of the acquisition, with COS having worked closely with both of these previous to the acquisition.

The deal comes in the same week as Office Depot having acquired IT specialist CompuCom Systems from private equity firm Thomas H Lee Partners for $1bn, a move that has been labelled as bold and risky, with the firm’s entire market capitalisation sitting just below $2bn.


Featured Articles

Top 10 easiest countries in the world to do business

Business Chief takes a look at the top 10 places in the world to do business, according to TMF Group's Global Business Complexity Index (GBCI) for 2023

Patagonia Chair Charles Conn on becoming an imperfectionist

Entrepreneur and Patagonia Chair Charles Conn talks to Business Chief about rethinking strategy amid uncertainty, and why an imperfectionist approach works

Top 10 most valuable brands in the world – Amazon to TikTok

Business Chief takes a look at the top 10 most valuable brands in the world, according to Brand Finance, which puts 5,000 major companies to the test

Four priorities for new Twitter CEO Linda Yaccarino

Leadership & Strategy

Top 10 shifts transforming organisations – McKinsey & Co

Leadership & Strategy

Top 10 fastest-growing jobs in the world according to WEF

Technology & AI