Office Depot to sell Japan business
BOCA RATON, Fla. - Office Depot announced that it has entered into an agreement to sell its Office Depot Japan business to Kakuyasu. The transaction also includes an agreement for Kakuyasu to license Office Depot’s trade names, obtain sourcing services and continue to support Office Depot’s global customers in Japan. Kakuyasu is one of the fastest growing and leading multi-channel businesses in Japan with FY 2009 sales of $775 million.
Office Depot Japan was established in 1996 and is a wholly owned subsidiary of Office Depot Inc.
“We believe the combination of Office Depot’s brand, merchandising and sourcing capabilities, coupled with Kakuyasu’s multi-channel business, distribution network and local expertise, will significantly strengthen our competitive position in this market,” said Charlie Brown, president of the international division of Office Depot.