|Staples Inc. Completes European Acquisition|
FRAMINGHAM, Mass.--(BUSINESS WIRE)--Oct. 7, 1999--Staples Inc. (NASDAQ:SPLS) today announced it has completed its acquisition of European office supply companies Sigma Burowelt in Germany, Office Centre in the Netherlands, and Office Centre in Portugal. The acquisition initially was announced on August 11, 1999.
The acquisition includes 42 retail stores and brings Staples' European presence to 128 superstores -- 58 stores in the United Kingdom, 43 stores in Germany, 21 stores in the Netherlands and six stores in Portugal.
Staples Inc. is a $7 billion retailer of office supplies, furniture and technology to consumers and businesses from home-based businesses to Fortune 500 companies in the United States, Canada, the United Kingdom, Germany, the Netherlands and Portugal. Headquartered outside Boston, Staples invented the office superstore concept and today is the largest operator of office superstores in the world. The company has over 46,000 employees serving customers through more than 1,000 office superstores, mail order catalogs, e-commerce and a contract business. More information about the company is available at http://www.staples.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Staples, Inc.'s business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-Q for the most recently ended quarter.