European Union (EU) regulators have approved Staples, Inc.’s acquisition of office products retailer Office Depot, Inc.
As part of the US$6.3 billion purchase, announced in February 2015, Staples has agreed to divest Office Depot's operations in Sweden. In order to comply with EU regulations, Staples will also sell off Office Depot's contract distribution business and its online, retail, and catalog operations in Europe.
Staples is still seeking approval of the acquisition from the U.S. Federal Trade Commission and the Canadian Competition Bureau. In addition to the EU, regulators in Australia, China, and New Zealand have approved the deal, Reuters reports.
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.