The Recycler
  • Biuromax Web ad May 2021
  • ECS Web ad October
  • Nubeprint Online 425x90
  • Ninestar Masthead banner July 2021
  • Katun March Web Advert 2021

Staples eyes up Essendant Inc.

Staples eyes up Essendant Inc.

August 22, 2018

Having missed out on the acquisition of Office Depot, Staples has now set its sights on the purchase of Illinois office supplier Essendant.

According to the Boston Globe, the Director of Staples, Stefan Kaluzny, has this week “increased the pressure” on Essendant, and its CEO Richard Phillips, to strike a deal; Essendant already has another offer on the table, of a merger with S.P. Richards, a deal which was approved by Essendant’s shareholders in a vote last October.

Kaluzny claimed that a recent rise in Essendant’s stock price, up to nearly $15 (€12.93) a share from under $10 (€8.62) in April, is as a result of Staples’ investment in the company. In response to these claims, Essendant publicly sang the praises of the S.P. Richard merger, and reiterated that the vote by shareholders was still in effect. It did, however, acknowledge Staples’ willingness to begin confidential talks, but stipulated that as of yet, the office supply titan hadn’t presented a full and former offer to Essendant’s board.

Staples’ desire for expansion is the first major move since its proposed takeover of Office Depot was halted on antitrust grounds in 2016; the fallout from that decision saw Staples itself acquired, by Kaluzny’s private equity firm, Sycamore Partners, in a move which saw Sandy Douglas replace Ron Sargent as CEO.

The Boston Globe opines Essendant “represents a smaller prize than Office Depot,” on account of its annual revenue of $5 billion (€4.31 billion), and its workforce of 6,400 employees, yet says it would “still be a substantial one.”

“Staples’ pursuit show that the country’s largest office supplier is still hungry to get bigger,” it reports, asserting that the company is “on the hunt again.”

Categories : Around the Industry

Tags : Acquisitions Essendant Office Depot Staples Suppliers

  • Apex web ad May 2021 version 2
  • GPI Web ad October
  • Mito September 2021 Web Advert
  • Aster Web ad October
  • Static Web ad July 2021
  • Armor May banner Ink
  • Ninestar Big & Bold July 2021
  • GM Tech Web ad October
  • IR Italiana Web ad January 2021
  • PW Dubai December Ad
  • Ohana July 2021 web advert
  • CET Web ad September 2021
  • HYB Web ad February 2021
  • PCL Web ad January 2021
  • CTS Toner Supplies Web ad April 2021
  • Adter Recruitment Web ad April 2021
  • ITP Web ad January 2021
  • Adter Recruitment Web ad April 2021
  • PCL Web ad January 2021
  • ITP Web ad January 2021
  • CTS Toner Supplies Web ad April 2021
  • Ohana July 2021 web advert
  • HYB Web ad February 2021
  • CET Web ad September 2021
  • PW Dubai December Ad
  • Ohana July 2021 web advert
  • CTS Toner Supplies Web ad April 2021
  • CET Web ad September 2021
  • PCL Web ad January 2021
  • Adter Recruitment Web ad April 2021
  • HYB Web ad February 2021
  • PW Dubai December Ad
  • ITP Web ad January 2021

The Recycler, Wittas House, Two Rivers, Station Lane, Witney, OX28 4BH, United Kingdom | Tel: +44 (0) 1993 899800 | Fax : +44 (0) 1993 226899
©2006-2021 The Recycler - Terms & Conditions - Privacy Policy including cookie use

Web design Dorset | Websites by Mark