Office Depot Expands in Sweden with Purchase of Office Supply Company Svanströms

Acquisition Expands Office Depot’s Market Presence; Provides Platform for Growth

BOCA RATON, Fla.--()--Office Depot (NYSE:ODP), a leading global provider of office supplies and services, today announced it is acquiring Svanströms Gruppen (Frans Svanström & Co AB), a Swedish office supply company. The transaction is contingent upon clearance by the Swedish antitrust authority.

Svanströms Gruppen has been owned by Mellby Gård Industri AB since 1997. During this time, Svanströms has expanded through numerous acquisitions in the Swedish office supply industry, including Wettergrens (based in Gothenburg) and Killbergs (based in Helsingborg).

“Svanströms has a successful legacy of more than 150 years in the industry,” said Åke Norström, Country Manager for Office Depot in Sweden. “It is a perfect complement to Office Depot’s existing Swedish operations, and the acquisition will benefit Office Depot’s competitive positioning in the Nordics.”

“We believe that Svanströms will benefit from becoming part of Office Depot’s global organization,” said Rune Andersson, Chairman of Mellby Gård Industri AB. “This will help to expand our relationships with Sweden-based multinational companies and leverage both entities’ product sourcing and procurement expertise as Svanströms becomes part of a much larger international entity.”

Office Depot first entered the Swedish market in 2004 through a strategic alliance with AGE Kontor & Data AB, one of the leading office supply companies in the region. In 2008, Office Depot acquired AGE Kontor & Data AB (now called Office Depot Sverige AB), which included adding 13 retail stores and a contract business to the Company’s global footprint.

The acquisition of Svanströms Gruppen enables Office Depot to continue to grow its European business and positions the Company as one of the leading multi-channel office supply companies in Sweden.

“We’ve been successful in this market and see continued growth and high potential in the region,” said Charlie Brown, President of the International Division of Office Depot. “The acquisition of Svanströms combines the global resources of Office Depot with the local talent, market knowledge and resources of Svanströms to provide both our local and European business customers an integrated solution for all of their office supply needs.”

The combination of Svanströms’ product sourcing initiatives and the group’s well-established brands contributed to it being named the “Reseller of the Year” in 2009 by the international office products organization OPI.

About Office Depot

Every day, Office Depot is Taking Care of Business for millions of customers around the globe. For the local corner store as well as Fortune 500 companies, Office Depot provides products and services to its customers through 1,600 worldwide retail stores, a dedicated sales force, top-rated catalogs and a $4.1 billion e-commerce operation. Office Depot has annual sales of approximately $12.1 billion, and employs about 41,000 associates around the world. The Company provides more office products and services to more customers in more countries than any other company, and currently sells to customers directly or through affiliates in 53 countries.

Office Depot’s common stock is listed on the New York Stock Exchange under the symbol ODP. Additional press information can be found at: http://mediarelations.officedepot.com and http://socialpress.officedepot.com.

About Svanströms Gruppen

Svanströms Gruppen is a leading provider of office supplies and office services and consists of the three chains Svanströms, Wettergrens and Killbergs. Together, these companies comprise the oldest company in the industry with over 150 years in business. Svanströms Gruppen is owned by Mellby Gard Industri AB. The legal name is Frans Svanströms & Co AB, parent company in the Svanströms Group, formerly ESSELTE Svanströms.

About Mellby Gard AB

Mellby Gard AB, parent company of the Mellby Gard Group, was founded by Mr. Rune Andersson in 1986 and is based in Malmo, Sweden. Mellby Gard AB, through its subsidiaries and investments, engages in the areas of water treatment chemicals, systems for on-street parking, sealing solutions, women’s ware, farming equipment, pre-manufactured homes and capital management and other businesses. More information about the Mellby Gard Group can be found at www.mellby-gaard.se.

Contacts

Office Depot
Brian Turcotte, 561-438-3657
Investor Relations
Brian.Turcotte@officedepot.com
or
Mindy Kramer, 561-438-4276
Public Relations
Mindy.Kramer@officedepot.com

Contacts

Office Depot
Brian Turcotte, 561-438-3657
Investor Relations
Brian.Turcotte@officedepot.com
or
Mindy Kramer, 561-438-4276
Public Relations
Mindy.Kramer@officedepot.com