Office Depot, Inc. recently announced the completion of the sale of its European business to The AURELIUS Group.
This transaction is part of the company’s recently announced international divestiture strategy to focus on opportunities in its North American business.
Since 2005, Aurelius has completed more than 70 transactions across Europe and specializes in investing in companies and corporate spin-offs, as well as complex divisional carve-outs from corporates.
Per the original announcement in September 2016, the transaction was structured as an equity sale, for nominal consideration, with the AURELIUS Group acquiring the European business with its assets and liabilities. At the time, annual revenue for the European business was approximately EUR 2 billion.