Essendant has acquired Staples, Inc.’s corporate contract business and related assets for US$22.5 million.
The deal is subject to the U.S. Federal Trade Commission’s (FTC) approval of Staples' purchase of Office Depot, which was announced in February 2015. Staples agreed to the divestment in an effort to comply with an administrative complaint filed by the FTC in December.
A trial over the complaint is scheduled to commence May 10 in U.S. District Court unless the FTC rescinds its challenge, reports The Orlando Sun Sentinel.
Previously known as United Stationers, Essendant, Inc. is a Deerfield, IL-based wholesale distributor of workplace products. Essendant’s portfolio includes its partner brands Azerty, LagasseSweet, Medco, and ORS Nasco. For more information, visit www.essendant.com.
Founded in 1986, Boston, MA-based Staples, Inc. is the world's largest office products company with annual sales of US$25 billion. Staples has more than 90,000 employees in 26 countries. For more information, visit www.staples.com.