OT Group completes acquisition of parts of Office Depot Europe
September 29, 2021
The sale of parts of the UK and Ireland contract business of Office Depot Europe to OT Group is completed.
Following the press release in June 2021, Office Depot announced the completion of the transaction to sell its larger mid-market, major and public sector contract customers in the UK and Ireland to workplace solutions and business services provider OT Group Limited.
OT Group is part of Paragon Group and incorporates the OfficeTeam, OT Wholesale, Zen Office and Spicers Ireland businesses.
The transaction includes Office Depot Europe’s UK and Ireland contract distribution centre in Ashton and associated colleagues, a dedicated sales and customer service team, and Vital Communications, Office Depot Europe’s print, marketing, and communications business, thereby ensuring a smooth transition and continuity for both customers and staff. OT Group have also entered into a collaboration agreement with Office Depot Europe, servicing the international customers that will be transferred as part of the deal.
Office Depot Europe said that this transaction was instrumental in accelerating the strategic transformation of Office Depot Europe to an e-commerce focused, omni-channel business trading solely as Viking and paved the way for the recently announced sale of the rest of the business to Raja.
Raffael Reinhold, CEO of Office Depot Europe: “We are delighted to complete this transaction with OT Group. This marks a further step in the strategic transformation of our business that aligns perfectly with the sale of the remaining core part of the business to Raja. We are pleased that this will provide continuity of service for our UK and Ireland contract customers focused on bespoke solutions, and a bright future with OT Group for our colleagues. We wish them all the best for the future as they transfer to their new employer.”
Andrew Jones, CEO of OT Group: “We are very happy to welcome our new customers and colleagues from Office Depot Europe to OT Group. Office Depot Europe will add a wealth of experience and knowledge to our extended range of workplace solutions and business services. This acquisition aligns with our ambitious growth strategy, as well as our plans to expand operations throughout Europe. The needs of our customers remain our key priority.”
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