Staples

Target Names Chief Digital and Product Officer

by Katie Lee October 6, 2022

Minneapolis — Target Corporation has hired Prat Vemana as executive vice president, chief digital and product officer. Vemana will join Target on Oct. 31 as a member of Target’s leadership team, reporting to Cara Sylvester, chief guest experience officer. In this role, he will oversee Target’s digital business, including site merchandising, user experience, digital operations and product, and Target+, the retailer’s growing online third-party marketplace. Additionally, Vemana will provide key support for Target’s industry-leading product teams across the company by bringing a holistic view to the retailer’s overall product strategy. …

October 6, 2022

News retailers

Mill 77 Exchange Expands New England Footprint with Flagship Store in New Hampshire

by Katie Lee May 25, 2022

North Hampton, N.H. — Mill 77 Holdings LLC is expanding its Mill 77 Exchange brand, enlarging its New England footprint with a new flagship store in North Hampton, N.H. This new location, a former Staples building, spans 20,000 square feet and is the brand’s largest location yet. This addition is the fifth location of the Mill 77 Brand of home furniture and décor. “There’s no doubt that our new flagship store in New Hampshire is the look and feel of our future,” says founder Gary Bergeron. “Today’s customer is looking …

May 25, 2022

News people retailers

Staples CEO to Step Down

by Katie Lee June 17, 2021

Framingham, Mass. — Staples, Inc., the owner and operator of the Staples North American Delivery business, has mutually agreed with J. Alexander (Sandy) M. Douglas, Jr. that Douglas will step down as chief executive officer. John A. Lederer, executive chairman of the board, will be appointed interim CEO. These changes will be effective on June 18, 2021. The company’s board of directors has commenced a search process to identify a permanent CEO. “On behalf of the board, I would like to thank Sandy for his commitment and dedication to the …

June 17, 2021

News retailers

ODP Confirms Receipt of Staples Proposal to Acquire Consumer Business for $1 Billion

by Katie Lee June 7, 2021

Boca Raton, Fla. — The ODP Corporation, a leading provider of business services, products and digital workplace technology solutions through an integrated B2B distribution platform with an online presence and approximately 1,100 stores, has confirmed that its board of directors has received a proposal from USR Parent, Inc. (Staples), the parent company of Staples and a portfolio company of Sycamore Partners, to acquire the company’s consumer business for $1 billion in cash. Last month, the company announced a plan to separate into two independent, publicly-traded companies, each with a unique …

June 7, 2021

News retailers

Office Depot Parent Company Rejects Staples’ $2.1 Billion Acquisition Offer

by Katie Lee January 20, 2021

Boca Raton, Fla. — ODP Corp., the parent company of Office Depot, has rejected USR Parent Inc.’s off-market transaction offer to acquire the Boca Raton, Fla.-based retailer. USR, the parent company of office products retailer Staples and affiliate of Sycamore Partners, offered to buy ODP for $40 per share in an all-cash deal that would equate to roughly $2.1 billion. In a letter to Stefan Kaluzny, managing director of Sycamore Partners and a member of the board of directors at USR, ODP’s chairman of the board of directors Joseph Vassalluzzo …

January 20, 2021

News retailers

Staples Stores to Become PPE Donation Spots for Children’s Miracle Network Hospitals

by Katie Lee April 7, 2020

Salt Lake City — As the COVID-19 crisis deepens, Children’s Miracle Network Hospitals® is committed to ensuring 170 children’s hospitals have the resources they need to care for the most vulnerable kids. Critical donations are needed to provide protective gear, equipment, charitable care and support services. Staples US Retail has partnered with CMN Hospitals to collect personal protective care equipment or donations to help local member hospitals fund their greatest needs. Donations of new, unused, unopened personal protective equipment such as N95 respirator face masks, disposable face masks, face-shield, eye …

April 7, 2020

News retailers

Staples To Be Acquired For Approximately $6.9 Billion

by Katie Lee July 5, 2017

Framingham, Mass., and New York City — On June 29, 2017, Staples, Inc. and Sycamore Partners, a leading private equity firm, entered into a merger agreement in which investment funds managed by Sycamore Partners will acquire Staples for approximately $6.9 billion.

July 5, 2017

News retailers

Staples Names President, North American Retail

by Katie Lee July 11, 2016

Framingham, Mass. — Staples, Inc. has named Steve Matyas its new president, North American retail. He previously had been president of Staples Canada/Bureau en Gros since July 2000, and will continue to serve as a member of the company’s executive committee.

July 11, 2016

News retailers

Office Depot Terminates Merger Agreement with Staples

by Katie Lee May 17, 2016

Boca Raton, Fla. — The merger agreement between Staples, Inc. and Office Depot, Inc. has been terminated. As a result, Office Depot will receive a cash payment from Staples of $250 million on May 19, 2016.

May 17, 2016

News retailers

Staples and Office Depot To Extend Merger Agreement

by Katie Lee January 20, 2016

Framingham, Mass. & Boca Raton, Fla. — Staples, Inc. and Office Depot, Inc. intend to waive the merger agreement termination date of February 4, 2016, and extend it to May 16, 2016.

January 20, 2016

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