|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
ODP Turns Down Stapes Buyout Offer, Proposes Alternative Plan
on January 20, 2021 at 12:52 pm
ODP Corporation (ODP) informed that it is open for a limited deal, which has a better chance to receive regulatory clearances. […]
Office Depot Parent Rebuffs Staples Bid, Eyes Alternative Deal
on January 19, 2021 at 1:58 pm
ODP says Staples' offer would expose the Office Depot parent to 'material uncertainty.' It proposes a possible alternative deal idea. […]
ODP's stock slips after WSJ report of rejecting Staples' buyout bid
on January 19, 2021 at 1:21 pm
Shares of ODP Corp. slipped 1.1% in premarket trading Tuesday, after The Wall Street Journal reported that the office supplies retailer has rejected an unsolicited buyout proposal by rival Staples, which is owned Sycamore Partners. The buyout bid of $40 a share in cash, announced last week, valued ODP at more than $2 billion. The WSJ report, citing a letter it reviewed, said ODP has determined that rather than a sale, it prefers a sale of its retail and consumer-facing e-commerce operations. Staples' latest bid marks the third attempt to acquire its rival, as the WSJ reported. ODP's stock has more than doubled (up 113.8%) over the past three months through Friday, including a 24.1% gain last week, while the S&P 500 has advanced 10.0%. […]
The ODP Corporation Outlines Path Forward for Value Creation in Letter to Sycamore Partners, Owner of Staples
on January 19, 2021 at 1:15 pm
The ODP Corporation outlines path forward for value creation in letter to Sycamore Partners, owner of Staples […]
ODP's Shares Rise Sharply on Staples' Takeover Offer
on January 12, 2021 at 2:44 pm
Industry experts cited that the current proposal would help consolidate Staples and ODP Corporation's (ODP) position in the office-supplies space. […]