OFFICE DEPOT BUYS SWEDISH OFFICE SUPPLIER

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OFFICE DEPOT BUYS SWEDISH OFFICE SUPPLIER

 user 2011-02-09 at 9:19:51 am Views: 85
  • #23966

    http://www.businessweek.com/ap/financialnews/D9KM9G680.htm

    OFFICE DEPOT BUYS SWEDISH OFFICE SUPPLIER
    Office
    Depot Inc. is buying Swedish office supply company Svanstroms Gruppen
    in order to expand its presence there.Terms were not disclosed.Office
    Depot first entered the Swedish market in 2004 through a strategic
    alliance with AGE Kontor & Data AB.”We’ve been successful in this
    market and see continued growth and high potential in the region,”
    Charlie Brown, president of Office Depot’s international division, said
    in a statement on Tuesday. Svanstroms Gruppen, owned by Mellby Gaard
    Industri AB, has expanded through some sector buyouts including
    Wettergrens and Killbergs.The acquisition must receive clearance from
    the Swedish antitrust authority.Office Depot, based in Boca Raton, Fla.,
    has 1,600 worldwide retail stores and approximately 41,000 employees.
    Its stock fell 11 cents to $5.90 in afternoon trading
    .

    http://www.businessweek.com/ap/financialnews/D9KM9G680.htm