Staples Inc is a well-established office supply company, but who owns it? The company is owned by Sycamore Partners, a private equity firm that acquired Staples in 2017 for $6.9 billion. This deal marked a significant shift in the company's ownership, moving from being a publicly traded company to being a private entity.
Sycamore Partners has a reputation for making strategic investments in companies, and it's likely that they will continue to shape the direction of Staples Inc. The company's new ownership has already led to some changes, including the closure of underperforming stores and a focus on e-commerce.
As a result of this new ownership, Staples Inc will likely continue to evolve and adapt to the changing needs of its customers. This may include investments in new technologies and services that cater to the growing demand for online office supplies.
The future of Staples Inc remains uncertain, but one thing is clear: Sycamore Partners is committed to making the company a success.
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Sycamore Partners Deal
Sycamore Partners acquired Staples Inc. in 2017 for approximately $6.9 billion.
The private equity firm bought the company through a takeover that was finalized in September 2017.
Sycamore Partners is now looking to withdraw most of its cash investment through a recapitalization effort, which would leave Staples with about $1 billion in additional debt and $600 million in equity.
The recapitalization and any subsequent IPO would relate to the division of Staples that sells office supplies in retail and to corporate accounts, increasing Staples' debt load by more than $1 billion.
Sycamore Partners' takeover of Staples highlights the negative side of private equity, where companies are often pressured to make money fast, leading to overworking and a focus on short-term gains.
The deal was completed despite multiple law firms investigating whether Staples had violated its fiduciary duty toward investors by failing to find a suitable deal.
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