Platinum Equity has completed the acquisition of the Staples business in Australia and New Zealand from Staples, Inc. for an undisclosed sum.
Staples is a leading supplier of business products, services and solutions in Australia and New Zealand. Staples also stocks a range of cleaning supplies including bins, rubbish bags, cleaning chemicals, cleaning cloths and sponges, cleaning equipment, paper products and dispensers.
Following the transition to new ownership, the acquired business will continue to operate under the Staples brand in Australia and New Zealand for a short period of time while a new corporate brand is created.
Platinum Equity, which has portfolio company operations on all seven continents, has been actively pursuing investment opportunities in Australia and New Zealand and currently owns a majority stake in Sensis, an Australian directories business acquired from Telstra, first announced its takeover of the Australian and New Zealand divisions in March.
Following the transition to new ownership, the divested business will continue to operate under the Staples brand in Australia and New Zealand for a short period of time while a new corporate brand is created.
Adam Cooper, principal at Platinum Equity, said at the time of the acquisition: “The Staples business in Australia and New Zealand has extraordinary potential as a standalone enterprise.”
“It has a strong customer base, dedicated employees and a long history in the markets it serves. We look forward to partnering with the management team to make substantial investments to optimise the company’s digital and systems capabilities with a focus on enhancing the customer experience.”