Staples Purchases Office Depot for $6.3 Billion
Sargent will remain chairman and CEO, but the company's board of directors will expand from 11 to 13 to include two Staples-appointed Office Depot directors.
“This transaction delivers great value for our shareholders and creates a company ideally positioned to serve our customers and grow over the long term,” Roland Smith, chairman and CEO for Office Depot Inc., said in a statement. “It is also an endorsement of our many accomplishments and the tremendous success we’ve had integrating Office Depot and OfficeMax over the past year. We look forward to bringing our experience and knowledge to the new organization.”
Amanda L. Cole is the editor-in-chief of NonProfit PRO. She was formerly editor-in-chief of special projects for NonProfit PRO's sister publication, Promo Marketing. Contact her at acole@napco.com.