|Price Range 12mo avg:||$2M – $4.4M|
|$/sf 12mo avg:||$127.46|
|CAP Rate 12mo avg:||8.40%|
|Lease Terms:||13yrs NN|
|Building Size avg:||22,900 SF|
|Lot Size avg:||1.30+/- acres|
Office Depot, Inc. is a global supplier of office products and services. The company was incorporated in 1986 with the opening of our first retail store in Fort Lauderdale, Florida. Formed by the merger of Office Depot and OfficeMax, Office Depot, Inc. is a leading global provider of products, services, and solutions for every workplace – whether your workplace is an office, home, school, or car.
Office Depot, Inc. is a resource and a catalyst to help customers work better. We are a single source for everything customers need to be more productive, including the latest technology, core office supplies, print and document services, business services, facilities products, furniture, and school essentials.
The company has combined pro forma annual sales of approximately $16 billion, employs more than 56,000 associates, and serves consumers and businesses in 56 countries with more than 1,800 retail stores, award-winning e-commerce sites and a dedicated business-to-business sales organization – all delivered through a global network of wholly owned operations, joint ventures, franchisees, licensees and alliance partners. The company operates under several banner brands including Office Depot, OfficeMax, OfficeMax Grand & Toy, Reliable and Viking. The company’s portfolio of exclusive product brands include TUL, Foray, DiVOGA, Ativa, WorkPRO, Realspace and HighMark.
|S&P Credit Rating:||B-|
|Moody’s Credit Rating:||B2|
|Annual Revenue 2014:||$16.10B|
|Annual Revenue 2013:||$11.24B|
|Revenue Growth:||↑ 43% from 2013|
|Units (Dec. 2014)||1,745|
|Average Units Volume:||$9.2M|
On February 4, 2015, Staples, Inc. (“Staples”) and the Company announced that the companies have entered into a definitive merger agreement (the “Staples Merger Agreement”), under which Staples will acquire all of the outstanding shares of Office Depot and the Company will become a wholly owned subsidiary of Staples (the “Staples Acquisition”). Under the terms of the Staples Merger Agreement, Office Depot shareholders will receive, for each Office Depot share held by such shareholders, $7.25 in cash and 0.2188 of a share in Staples common stock at closing.Each employee share-based award outstanding at the date of the agreement will vest upon the effective date of the Staples Acquisition. The transaction has been approved by both companies’ Board of Directors and the completion of the Staples Merger is subject to customary closing conditions including, among others, the approval of Office Depot shareholders and various regulatory approvals. The transaction is anticipated to close before the end of 2015. Refer to the Company’s Form 8-K filed February 4, 2015 for additional information on the transaction. We cannot guarantee that the Staples Acquisition will be completed or that, if completed, it will be exactly on the terms as set forth in the Staples Merger Agreement.
Yahoo! Finance: ODP News Latest Financial News for ODP
Staples Can't Stop Trying to Buy Office Depot
on March 31, 2021 at 4:18 pm
Staples just can't quit Office Depot (NASDAQ: ODP). Time and time again, the office supplies giant has tried to buy its rival and failed, often because the government prevented it over antitrust concerns, but more recently because Office Depot itself said no. Now USR Parent, which is Staples' retail office-supply business, says it is thinking about buying certain Office Depot assets, and Office Depot actually says it's not opposed to the idea. […]
Staples exploring options to purchase assets from competitor ODP
on March 31, 2021 at 1:25 pm
Sycamore Partners-backed USR Parent Inc., which is the Staples retail office supply business, says it is evaluating the alternatives to purchase assets belonging to competitor ODP Corp. The news comes after ODP announced on March 15 that it has rejected a previous offer from Staples to acquire various assets. In a letter, ODP said it was open to "combining our retail and consumer-facing e-commerce operations with Staples under the right set of circumstances and on mutually acceptable terms, including in the form of a joint venture or potential sale of such assets by ODP. This remains the case." However, ODP says the previous offer from Staples failed to include details including a timeline for completing the transaction or valuation for the assets the company sought to purchase. ODP shares have rallied 38.7% over the past three months, and have gained nearly 149% over the last year. The company has faced business encroachment by Amazon.com Inc. and others over recent years. The benchmark S&P 500 index is up 53.2% for the last 12 months. […]
Staples Will Evaluate All Alternatives In Its Pursuit Of The ODP Corporation
on March 31, 2021 at 12:00 pm
USR Parent, Inc. ("Staples") today announced that, in light of the March 15, 2021 public announcement made by the Board of Directors of The ODP Corporation (NASDAQ: ODP) indicating that ODP would be open to the potential sale of certain of ODP's assets, Staples will evaluate all alternatives in its pursuit of ODP, including, but not limited to, all of ODP or certain select assets, which may include ODP's retail and consumer facing business, its business operations in Canada and certain other assets. Accordingly, Staples has decided to defer the March 2021 launch of a tender offer for ODP's common shares. Staples reserves the right to commence a tender offer for ODP's common shares in the future. […]
The ODP Corporation Provides Update On CompuCom’s Malware Incident And Business Impact
on March 26, 2021 at 9:10 pm
The ODP Corporation ("ODP," or the "Company") (NASDAQ:ODP) today provided an update to prior disclosures regarding the malware incident that affected its wholly-owned subsidiary CompuCom Systems, Inc. ("CompuCom") on March 1, 2021. CompuCom has made significant progress in restoring operations and service delivery to its customers. While CompuCom has made significant progress in remediating its systems related to the malware incident, ODP nonetheless expects the down time experienced and related impact due to the malware incident to result in a loss of revenue for the month of March as well as incurred and accrued costs which will adversely impact the Company’s financial results for the first fiscal quarter of 2021. The Company estimates the loss of revenue to be between $5.0 million and $8.0 million as a result of the incident (primarily because of CompuCom’s need to temporarily suspend certain services to certain customers). In addition, the Company expects to incur expenses of up to $20 million, of which the Company assumes approximately $10 million will be accrued through the first quarter of 2021. These expense estimates are primarily related to CompuCom's efforts to restore service delivery to impacted customers and to address certain other matters resulting from the incident. The Company carries insurance, including cyber insurance, which it believes to be commensurate with its size and the nature of its operations and expects that a portion of these costs may be covered by insurance. […]
Sidoti Virtual Investor Conference
on March 23, 2021 at 11:30 pm
Presentation Times and Weblinks Released for Over 125 Presenting CompaniesWednesday and Thursday, March 24-25, 2021NEW YORK, NY / ACCESSWIRE / March 23, 2021 / Sidoti & Company, LLC proudly releases the presentation schedule, with weblink click-throughs, for its Spring 2021 Virtual Investor Conference to be held on Wednesday, March 24, 2021 and Thursday, March 25, 2021. (KELYA)*****Crawford & Company (CRD) 10:45-11:15Intelligent Systems Corp (INS)Comfort Systems USA (FIX)Transcat, Inc. […]