Office Depot agrees to sell CEE business
September 26, 2019
AURELIUS’ subsidiary Office Depot Europe intends to sell its Central and Eastern European (CEE) business to strategic buyer PBS Holding AG.
Office Depot Europe, a portfolio company of AURELIUS Equity Opportunities SE & Co. KGa has agreed to sell its Czech and Slovak subsidiaries to PBS Holding AG. PBS Group is a reseller of office supplies, paper and stationery headquartered in Wels, Austria. PBS Group are serving its customers in Austria, Germany, Poland, Hungary, Italy, Slovenia, the Czech Republic and Slovak Republic.
The transaction is subject to the approval of the relevant antitrust authorities and is expected to close in due course.
Following its acquisition by AURELIUS in January 2017, Office Depot Europe was subject to a comprehensive transformation programme. Consequently, the CEE business saw the product and service offering being extended into adjacent areas such as office furniture, PPE (personal protective equipment), managed-printing services (MPS) as well as cleaning & hygiene products.
The CEE business has a particular focus on servicing larger contract business customers (SME organisations, public sector as well as local operations of international corporations). Over the last two and a half years Office Depot Europe´s CEE business managed to grow organically and increased its market share. This has resulted in the company reaching a strong position in its relevant markets, Office Depot Europe stated.
Office Depot Europe and PBS Group have a strong relationship and will collaborate in serving international corporations across the Czech Republic and Slovak Republic. This strategic acquisition allows PBS Group to strengthen its market position in the relevant markets.
Categories : City News
