Staples Stock Climbs Following Accolade Promotion Group Acquisition
After announcing the acquisition of Accolade Promotion Group (APG) yesterday, Staples Inc. stock climbed 0.66 percent to $16.14 per share in afternoon trading on Monday, according to a report by The Street.
The terms of the acquisition were not disclosed. Compared to its closing price one year ago, Staples' share price increased 38.26 percent.
Staples said in a statement the acquisition will build upon its reputation as a major distributor of promotional products in North America.
"The acquisition will further Staples' ability to bring customers a strong brand partner with a broader offering in Canada," said Steve Bussberg, senior vice president of Staples Advantage, in the statement.
According to Markets Wired, the company is expected to announce next quarter earnings on May 20.
For more information, visit www.staples.com.