Office Depot Makes Eastern European Acquisition

Sep 01, 2006 10:05 PM  By

Delray Beach, FL-based office supplies merchant Office Depot (NYSE:ODP), announced on Aug. 31 that it has acquired Papirius, a business-to-business supplier of office products and services in Eastern Europe. Terms of the deal were not disclosed.

Based in the Czech Republic, Papirius also has operations in Lithuania, Hungary, and Slovakia. The company, which has annual revenue of more than $56 million, sells such items as paper and envelopes, toner, office furniture, writing instruments, and cleaning supplies, as well as professional services.

The acquisition extends the $15 billion Office Depot’s global reach “and strengthens our presence in key international markets,” said Office Depot International president Charles Brown in a statement. “Papirius’ leadership in delivering a wide range of products and services to small businesses throughout Eastern Europe enhances Office Depot’s competitive position within this increasingly important region.”

Papirius, which has more than 540 associates throughout Eastern Europe, will operate under the Office Depot International division. Cofounders Petr Sykora and Jan Cerny will continue in their roles as managing directors for Papirius.