OFFICE DEPOT BUYS SWEDISH OFFICE SUPPLIER

[Anonymous]

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

[Author]

February 9, 2011 at 9:19 AM