Private equity firm Sycamore Partners has signed an agreement to acquire US-based office supplies retailer Staples in a $6.9bn deal.

Under the terms of the agreement, Sycamore will buy the common stock of Staples for $10.25 a share.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Staples board chairman Robert Sulentic said: “Today’s announcement is the result of a comprehensive process in which our board, with the assistance of a transaction committee comprised of independent directors, and outside financial advisors, explored and considered various alternatives to enhance value for our stockholders.

“Staples’ board believes that this process has led to a transaction which is in the best interests of our stockholders, as well as Staples and its employees.”

“This transaction will enable us to drive greater value for our customers and immense opportunity for our business.”

Scheduled to close by December, the transaction is subject to customary closing conditions, including the receipt of regulatory and stockholder approval.

See Also:

Staples president and CEO Shira Goodman said: “This transaction will enable us to drive greater value for our customers and immense opportunity for our business.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

A number of financial organisations, including UBS Investment Bank, Deutsche Bank, Credit Suisse and Royal Bank of Canada will provide debt financing for the transaction.

Staples operates more than 1,500 stores in the US and Canada.

Last year, Staples had to abort a proposed merger with office supplies retailer Office Depot after a US judge ruled in favour of the federal trade commission (FTC), which filed a lawsuit on the grounds of anti-trust concerns.

Image: A location at the Savi Ranch Center in Yorba Linda, California. Photo: courtesy of Vercillo via Wikipedia.