Office Depot Acquires Complete Office Solutions

Office Depot (ODP) has acquired Complete Office Solutions for an undisclosed amount, according to a confirmed report.Complete Office is a large independent office supplies dealer with a geographic focus on Washington state, California and Wisconsin.Office Depot is pivoting from a products retailer to an IT service provider, so the Complete deal may be one of several to come as ODP seeks to create a nationwide network of local sales forces to cross-sell its recently-acquired tech support service offerings from CompuCom.Seattle, Washington-based Complete was founded in 2003 to provide a single distribution point for office supplies to local businesses. It expanded to Wisconsin in 2006, to San Diego in 2007 and Boise, Idaho in 2015.Management is headed by co-founder and CEO Ted Nark, who was previously CEO of Corporate Express Australia.Complete's primary offerings include office products, furniture, business printing, janitorial and sanitation, coffee and breakroom and promotional products totaling more than 25,000 SKUs.Its customer base is primarily small and mid-market businesses seeking to consolidate their office supply purchase sourcing into one vendor.Neither firm disclosed the acquisition price or terms and Office Depot didn't file an 8-K or disclose a change in financial guidance.According to the deal report, Complete had grown to $150 million in annual revenues and employs more than 300 people.The combination of Complete with Office Depot promises to expand Office Depot's mid-market business penetration in a few key markets.Additionally, Office Depot plans to keep Complete as a separate business division, even keeping its name and distribution facilities.Office Depot has whipsawed investors recently, with an announcement last week that it intends to pivot 'the company from a traditional office products retailer to a broader business services and technology products platform.'The announcement came as the firm agreed to acquire CompuCom Systems for $1 billion in total consideration.By pursuing an IT and business services approach, ODP hopes to leave behind the low growth, generic office products business in favor of developing a 'comprehensive network of enterprise-level tech services and products.'The deal for Complete is likely a harbinger of more deals for independent, mid-market centric firms with strong local sales forces that can cross-sell IT services to their existing customer base.I expect to see similar deals like Complete as ODP seeks to create a distribution network of sorts for its CompuCom capabilities and combine office supplies with IT services.Investors remain unconvinced, as the stock plunged 17% on the CompuCom/business pivot announcement:(Source: Seeking Alpha)So, ODP shareholders have a long road ahead. Management wants to turn the firm in a different direction, changing it from a retailer to a service provider to SMB and mid-market customers.That's not an easy job to accomplish, and I imagine investors won't be patient. ODP will need to show positive results within the next 3-4 quarters, otherwise, investors may lose interest.I write about M&A deals, public company investments in technology startups, and IPOs. Click the Follow button next to my name at the top or bottom of this article if you want to receive future articles automatically.Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Office Depot Acquires Complete Office Solutions 1

Artículos recomendados
How to Save Money on Business Office Supplies
Businesses today face greater challenges and test than they have seen in recent times. With the continuing uncertainty of the economic climate, changing banking relationships and the pressures of balancing the company books it is now more important than ever to make the company dollar stretch as far a possible.Put into simple terms business needs to make as much as possible whilst running and economically as possible, that means buying at the right price; whether it's the company electricity bills, temporary staff, printing, telephone bills, fuel costs or the cost of running an efficient office.Office supplies are one area where companies with large numbers of office based staff can really save if done in the correct way. Stationery products, filing supplies, printer cartridges and general desktop office products are all common place in the office; in fact without office supplies most businesses would struggle to make progress throughout the working day. It doesn't matter what the trade is from stock broker and bankers, to manufacturers and recruitment agencies - if the office is the hub and core management area of a business then it will in almost all cases be responsible for a substantial area of a companies spend.(adsbygoogle = window.adsbygoogle || []).push();1. The best way to trim a companies office supplies spend is to look within.Look through previous invoices from office supplies providers and create as large a list as possible detailing the most used office supplies within a given department or office. At this point it's worth noting to actually do this within the company and not ask the office supplies provider to undertake the task: this way, the list will be based on the actual items purchased as opposed to a general core list that most office supplies companies will provide. Make the list as comprehensive as possible; filing products like binders, suspension files and archive storage products, also printer supplies, fax toners, photocopier ink and calculator ribbons - anything that will be ordered over and over again.2. Bid out your office supplies needsOnce the core list of regular use office supplies has been complied, invite a cross section of office supplies providers to tender for the supply of them - try to indicate willingness to do monthly orders, pay on time and where possible order online - all of these aspects will appeal to office supplies companies and helps to secure a better deal, the easier it is for an office supplies company to supply a company the less margin it will take to run the account efficiently.3. Choose the best providers.Once the prices have been submitted by the suppliers it's a good idea to select the best two. This will help keep the costs down on items that may be one off purchases in the future as ordinarily this is the area an office supplier provider will make their money.Run this procedure at least once per calendar year and review the office supplies providers with this method and the company spend on office supplies will quickly become reduced.Build on Your Core CompetenciesGrowing Your Business by Outsourcing to Freelance MarketplacesMerchant Account: How to Accept Credit Card Payments Online10 Common Home Office MistakesThe Enthusiastic Employee: 16 Myths on Employee and Performance Management
Office Supplies Were Sold by J's Appliance Repair at Cost to Another Repair Shop, with Cash Received
This Video Reveals the Best Use for a Pinboard We've Ever Seen
Think Green Collection: Editors Choice 10 Best Images
Where Can I Find Plastic Injection Molding Manufacturers in China?
How to Curl Your Hair Like This?
What Is Preventing the Solar Energy and Other Renewables to Replace the Oil?
What Matches This Formal Dress?
Why Does an Air Conditioner Sometimes Take so Much Time to Cool a Room?
Want to Play a Killer Video Game?
related searches
How to Save Money on Business Office Supplies
Office Supplies Were Sold by J's Appliance Repair at Cost to Another Repair Shop, with Cash Received
This Video Reveals the Best Use for a Pinboard We've Ever Seen
Think Green Collection: Editors Choice 10 Best Images
Where Can I Find Plastic Injection Molding Manufacturers in China?
How to Curl Your Hair Like This?
What Is Preventing the Solar Energy and Other Renewables to Replace the Oil?
What Matches This Formal Dress?
Why Does an Air Conditioner Sometimes Take so Much Time to Cool a Room?
Aminica Wigs are dedicated to providing top quality virgin human hair for large trader and wholesaler. Usually they resell it to the retailers then to customers, which results in high price that makes customers awe-stricken.
Contact Us

+86 020-22139352

If you have a question, please contact at contact

Copyright © 2021 Aminica humain Wigs |Sitemap