End of Public Market Operations for Office Depot and OfficeMax Owner

Buyout Details: Atlas Holding is set to acquire ODP Corporation, with the deal expected to close on December 10, 2023, allowing ODP shareholders to receive $28.00 per share, totaling around $1 billion.

Transition to Private Company: Post-acquisition, ODP will operate as a private entity, focusing on its B2B distribution platform and supply chain infrastructure without the pressures of public market performance.

Historical Context: ODP Corporation originated from Office Depot, founded in 1986, and later merged with OfficeMax in 2013, becoming a leading office-products retailer in North America.

Market Challenges: ODP has been adapting to competition from e-commerce giants like Amazon and mass merchants such as Walmart and Costco, which have expanded their office supply offerings, impacting ODP's traditional retail model.