Venture capital fund buys Office Depot's Hungarian unit
Hungary's Central Fund Venture Capital Fund has purchased Office Depot Hungary, the Hungarian unit of US office-supply company Office Depot, the company told MTI on Wednesday. The fund purchased the Office Depot Hungary on December 20, according to the unit's website. Office Depot Hungary had pre-tax losses of HUF 700m in 2012, compared to pre-tax losses of HUF 1.4 billion in 2011. The unit generated turnover of HUF 4.4 billion in 2012, down from HUF 8.4 billion three years earlier. The Central Fund Venture Capital Fund will have the right to use the Office Depot brand name for a period of ten years. The fund intends to further cut losses on stable turnover in 2013.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.