|Staples Completes Quill Purchase for $690 Million|
WESTBOROUGH, Mass.--(BUSINESS WIRE)--May 21, 1998--Staples, Inc. (NASDAQ:SPLS:news) announced today that it has completed the purchase of Quill Corporation for approximately $690 million.
Staples first announced the transaction on April 7, l998.
Quill Corporation of Lincolnshire, IL sells office supplies to businesses in the United States via a mail order catalog, the internet and outbound telemarketing. Quill recorded $550 million in annual sales in l997 and has 1,400 employees.
Staples, Inc. is a $5 billion retailer of office supplies, furniture and technology to businesses from home-based businesses to Fortune 50 companies in the United States, Canada, the United Kingdom and Germany. Staples, headquartered near Boston, Mass., pioneered the office superstore concept and today is the largest operator of office superstores in the world. The Company, which has grown earnings per share at over 40 % compounded rate over the last five years, has over 30,000 employees serving the business customer through 782 office superstores, mail order catalogs and a contract business.
More information on Staples may be obtained from the Company's Investor Relations department by dialing (800) INV-SPL1 or from the Company's website at http://www.staples.com.
Staples, Inc. Samuel Levenson, CPA, 508/370-7963 (Investors) firstname.lastname@example.org or Jean Papagni, 508/370-8727 (Media) email@example.com