Private Equity Firm Completes Acquisition Of Staples, Inc.
Sycamore Partners has completed its acquisition of Staples, Inc. First announced in June, the private equity firm acquired the Framingham, Massachusetts, company for approximately $6.9 billion. Staples, Inc. participates in the promotional products industry as distributor Staples Promotional Products (PPAI 108945).
"We are pleased to have completed this transaction and look forward to partnering with CEO Shira Goodman and the Staples management team as we seek to increase long-term profitability," says Stefan Kaluzny, managing director of Sycamore Partners. “With the support of its dedicated associates, Staples is well-positioned to leverage its iconic brand and leading competitive position to drive even greater value for its business-to-business and retail customers in the U.S. and Canada.”
Goodman, Staples, Inc.’s CEO and president, adds, “We are excited about the tremendous opportunities ahead for the Company and our talented associates. We look forward to benefitting from Sycamore Partners’ retail and wholesale experience as we work together to deliver exceptional products, services and expertise that enable businesses to work better.”
As a result of the completion of the merger, the common stock of Staples will no longer be listed for trading on Nasdaq.