Office Depot
Gear Up For Great
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Office Depot’s corporate headquarters in Boca Raton, Florida
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| Public | |
| Traded as |
NASDAQ: ODP S&P 400 Component |
| Industry | Specialty retail |
| Founded | October 1986 |
| Founder | F. Patrick Sher |
| Headquarters | Boca Raton, Florida, United States |
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Number of locations
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1,912 (December 2013) |
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Area served
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North America |
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Key people
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Roland C. Smith (Chairman and CEO) Stephen Hare (CFO) Deborah A. O'Connor (CAO) Troy Rice (EVP) |
| Products | Office supplies, Technology, Furniture, Copy & Print, Shipping Services |
| Brands | Office Depot, OfficeMax, Grand & Toy, Viking Direct, Ativa, TUL, Foray, Realspace, DiVOGA |
| Revenue |
 US$14.485 billion (2015) |
 US$ 115 million (2015) |
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US$ 8 million (2015) |
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| Total assets |
US$6.442 billion (2015) |
| Total equity |
US$1.603 billion (2015) |
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Number of employees
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49,000 (2016) |
| Subsidiaries |
OfficeMax Grand & Toy Viking Direct |
| Website | officedepot |
Office Depot, Inc. is an American office supply retailing company headquartered in Boca Raton, Florida, United States of America. The company has combined annual sales of approximately $14 billion, employs about 66,000 associates, and serves consumers and businesses in 59 countries with more than 2,200 retail stores, e-commerce sites and a business-to-business sales organization. The company’s portfolio of brands includes Office Depot, OfficeMax, Grand & Toy, Viking Direct, Ativa, TUL, Foray, Realspace, and DiVOGA.
It was announced February 20, 2013, that Office Depot and OfficeMax would combine in an all-stock deal, pending regulatory approval and stockholder approval. On November 5, 2013, the merger was completed.
On February 4, 2015, it was announced that rival Staples had agreed to purchase Office Depot in a cash and stock deal worth approximately $6.3 billion. However, in December 2015, the Federal Trade Commission voted to block the merger. On May 10, 2016, the United States District Court for the District of Columbia granted the FTC a preliminary injunction against the merger. After the ruling, Office Depot and Staples announced termination of their proposed merger.
Office Depot was founded in October 1986 by the late F. Patrick Sher, the former chairman and chief executive officer; Stephen Dougherty, the president; and Jack Kopkin, the executive vice president. All three were formerly associated with Home-owner's Warehouse, the home improvement company that Sher sold to Service Merchandise in 1983 and renamed as Mr. HOW Warehouse. The catalog showroom chain eventually sold off the Mr. HOW Warehouse units to a variety of buyers including Builders Square, the home center warehouse subsidiary of Kmart Corporation. They envisioned a warehouse-style store for office products where customers could purchase items in bulk for discounted prices. This concept led to the beginning of what is known as Office Depot, and the company opened its first store at Lakes Mall in Lauderdale Lakes, Florida in October 1986. Office Depot recently closed all of its Connecticut locations.
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Wikipedia