It’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 Quill.com.. . . more