|Staples, Inc. Acquires Oy Lindell Ab|
FRAMINGHAM, Mass., Jul 02, 2010 (BUSINESS WIRE) --
Staples, Inc. (Nasdaq: SPLS) announced today the acquisition of Finland's leading office supply company, Oy Lindell Ab. The purchase builds on Staples' strong Nordics region, part of its $3.5 billion European office products business.
Lindell currently serves businesses of all sizes through a delivery and retail network, offering a wide range of office products and industrial and school supplies. The acquisition will enable Lindell to benefit from Staples global buying leverage and allow for the sharing of best practices. Bo Nyman, the current CEO of Lindell, will continue to lead the organization. Previously, Staples had an alliance with Lindell to service global contract customers in Finland. Staples inherited the relationship when it acquired Corporate Express in 2008.
"Lindell is a perfect fit with our Nordics region," said Mike Miles, Staples' president and chief operating officer. "We've worked together for two years and both companies share a passion for making it easy for our customers. Lindell is a great addition to the Staples family, and we look forward to working more closely with the team."
"I am proud of the leading and well respected position that the company has developed in the Finnish market," said John Lindell, owner of Oy Lindell Ab. "I believe Staples will further develop this position while embracing the heritage and customer oriented approach that has been a key factor in the success of the company."
"This is an excellent opportunity for us, as Staples is in a great position to support and accelerate the development of the business," said Bo Nyman, CEO of Lindell. "Staples has a business culture and service approach very comparable to our own and I strongly believe that by having Staples as our owner we will be able to further improve our service and product offering for our customers. The transaction will also give us new resources for developing our coverage across all channels."
Lindell has enjoyed 120 years of success in the Finnish market and has a state-of-the-art central warehouse, 7 own shops and 2 franchised throughout the country, experienced management, and a strong team of sales representatives.
Staples, the world's largest office products company, is committed to making it easy for customers to buy a wide range of office products and services. Our broad selection of office supplies, electronics, technology and office furniture as well as business services, including computer repair and copying and printing, helps our customers run their offices efficiently. With 2009 sales of $24 billion and 91,000 associates worldwide, Staples operates in 25 countries throughout North and South America, Europe, Asia and Australia serving businesses of all sizes and consumers. Staples invented the office superstore concept in 1986 and today ranks second worldwide in e-commerce sales. The company is headquartered outside Boston. More information about Staples (Nasdaq: SPLS) is available at www.staples.com/media.
SOURCE: Staples, Inc.