Staples Divests Australian OperationsMarch 15, 2017
Staples, Inc. has sold its Australian operations to private-equity firm Platinum Equity, LLC.
The deal, which includes Staples’ operations in New Zealand, is part of the company’s overall strategic initiative to strengthen its presence in the North American market. The company divested its European operations in December 2016. Financial terms of the deal, which is expected to close by July, were not disclosed, The Australian Financial Review 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.