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 user 2003-10-11 at 10:30:00 am Views: 122
  • #7692

    Headline: Asset stripping leaves Daisytek bare

    Daisytek Units The Tape Company, Daisytek Canada Arlington Industries, and Daisytek Inc have been sold.

    United Stationers has acquired Daisytek Inc for $1 million, outbidding ex-Daisytek CEO Jim Powell in the process, EMJ Data Systems snapped up Daisytek Canada, Carolina Wholesale has bought Arlington Industries and The Tape Company is back with founders Mike Cullen and Bob Daly who now run Discount Media. All businesses, except Daisytek Canada, were in Chapter 11.

    United SVP/CFO Kathy Dvorak told OPI: “It was the intellectual property that we were interested in. Its software provides a resource to the market in terms of product compatibility information. It also had several URLs that we think have marketplace recognition and may be valuable.”

    EMJ Data Systems’ $20 million purchase of Daisytek Canada is expected to close at the start of the month, subject to approval from the Canadian Competition Tribunal. The combined sales of the companies are $400 million.

    EMJ president Jim Estill said: “This provides nothing but added opportunity. EMJ customers will be able to benefit from an excellent supplier of low cost toner cartridges, ink and media and Daisytek customers can buy quality computer hardware and peripherals from EMJ.