Thursday, August 17, 2017

Staples spinning off retail business

Image result for staplesIt’s official: Staples’ new private equity owner, Sycamore Partners, plans to split up the office supplies seller by spinning off its retail operations from its corporate sales unit.

In a filing with the Securities and Exchange Commission, Staples said itexpects to separate its U.S. retail business and Canadian retail businessesinto two separate Sycamore-affiliated entities. The carveout transactions would be independently financed and yield $1.35 billion for Staples Inc. Post-spinoff they would be run and managed independently, according to the filing. The remaining Staples business would then be the current North American Delivery unit, which includes Staples Advantage and . . more

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