|Staples, Inc. Announces Acquisition of American Identity, A Leading Promotional Products Distributor|
FRAMINGHAM, Mass.--(BUSINESS WIRE)--May 22, 2007--Staples, Inc. (Nasdaq: SPLS) announced today that it has acquired American Identity, one of the largest global distributors of corporate branded merchandise, from Republic Financial Corporation. The acquisition provides Staples expanded capabilities in the $18 billion promotional products market and allows American Identity, headquartered in Overland Park, Kansas, to benefit from the infrastructure of the world's largest office products company.
"American Identity is a great fit with Staples as they bring creative custom order solutions and managed programs to businesses of all sizes," said Jay Baitler, executive vice president of Staples Contract Division. "This acquisition is part of Staples' strategy to expand into adjacent product offerings, bringing greater value to our customers. We look forward to working with the American Identity team and know that their market leadership will deliver benefits across Staples' businesses."
"The American Identity family is thrilled about joining Staples and the opportunity this presents for our customers, employees, and sales organization," said Roger Henry, American Identity chief executive officer. "We are eager to begin working with Staples to accelerate the growth of our business and leverage Staples' e-commerce expertise and leading supply chain network."
American Identity will continue to operate as a separate business and will provide products through Staples' North American Delivery and North American Retail businesses.
About American Identity
Founded in 1946, American Identity is one of the largest distributors of corporate branded merchandise. American Identity partners with its customers to enhance their corporate image through a wide range of products and creative marketing solutions. It serves businesses from small and mid-sized to Fortune 1000 companies and has been an official corporate licensee to the U.S. Olympic Committee for 16 years. The company employs over 800 associates nationwide.
Staples, Inc. invented the office superstore concept in 1986 and today is the world's largest office products company. With 74,000 talented associates, the company is committed to making it easy to buy a wide range of office products, including supplies, technology, furniture, and business services. With 2006 sales of $18.2 billion, Staples serves consumers and businesses ranging from home-based businesses to Fortune 500 companies in 22 countries throughout North and South America, Europe and Asia. Headquartered outside of Boston, Staples operates approximately 1,900 office superstores and also serves its customers through mail order catalog, e-commerce and contract businesses. More information is available at www.staples.com.
CONTACT: Staples, Inc. Owen Davis, 508-253-8468 email@example.com SOURCE: Staples, Inc.