Staples Purchases Office Depot for $6.3 Billion
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Staples, Framingham, Mass., bought its main competitor Wednesday, purchasing Office Depot, Boca Raton, Fla., for $6.3 billion. The deal awaits approval from federal regulators and Office Depot shareholders.
Both companies have struggled, with Staples planning to close 225 stores by mid-2015 and Office Depot, which bought OfficeMax in 2013, aiming to shutter 135 locations this year, according to The Washington Times. And more closures could occur after the merger as about half of Staples stores are within five miles of Office Depot sites.
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Amanda L. Cole
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Amanda L. Cole is the editor-in-chief of NonProfit PRO. She was formerly editor-in-chief of special projects for NonProfit PRO's sister publication, Promo Marketing. Contact her at acole@napco.com.
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