Staples Completes Acquisition of EssendantJanuary 31, 2019
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Staples, Inc. has successfully completed its tender offer for outstanding shares of Essendant.
The acquisition, valued at US$996 million including debt, was announced in September 2018. Per the terms of the acquisition, Staples will pay $12.80 per share of Essendant, which represents a 51 percent premium on the shares’ value as of April 11, 2018.
Founded in 1986, Boston, MA-based Staples, Inc. is a leading office-products company with annual sales of US$25 billion and more than 90,000 employees in 26 countries. For more information, visit www.staples.com.
Previously known as United Stationers, Essendant is a Deerfield, IL-based wholesale distributor of workplace products. Essendant’s portfolio includes its partner brands Azerty, LagasseSweet, Medco, and ORS Nasco. For more information, visit www.essendant.com.