Staples Makes Offer for EssendantMay 17, 2018
Sycamore Partners, the private equity owners of Staples, Inc., has made an unsolicited proposal to acquire Essendant.
The conditional, non-binding proposal calls for Staples to pay acquire Essendant in an-all cash deal of US$11.50 per share. At this time, there are no assurances that Staples’ bid will result in a transaction, as Essendant previously agreed to a merger with Genuine Parts Co.’s S.P. Richards Co. businesses unit earlier this year.
Founded in 1986, Boston, MA-based Staples, Inc. is a leading office-products company with annual sales of US$25 billion and more than 90,000 employees in 26 countries. For more information, visit www.staples.com.
Previously known as United Stationers, Essendant 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.