A rebrand is on the cards for Staples’ Australian and New Zealand operations after private equity investment firm, Platinum Equity, struck a deal to acquire the company’s local business.
The two companies, both headquartered in the US, announced on 13 March that the acquisition deal would see Platinum Equity will acquire Staples’ A/NZ for an undisclosed sum, with the transaction expected to close in the second calendar quarter of 2017.
Following the transition to new ownership, the divested business will continue to operate under the Staples brand in Australia and New Zealand for a short period of time while a new corporate brand is created.
According to Staples CEO and President, Shira Goodman, the deal will free up resources for the business products, services and solutions company to focus on its home turf in the US.
“As we execute our plan for long-term growth we want to focus primarily on our Staples’ North…