ADVERTISEMENT

Office Depot agrees to buy eastern European supplier

Pharma

Office Depot Inc., the world's second-largest office-supplies retailer, agreed to buy Papirius s.r.o. to sell paper and pens to companies in Eastern Europe. Terms of the acquisition weren't disclosed. Papirius has annual revenue of more than $56 million and operations in the Czech Republic, Lithuania, Hungary and Slovakia, Delray Beach, Florida-based Office Depot said yesterday in a statement. The acquisition will expand Office Depot's international unit, which comprised 24% of the company's 2005 sales. Co-founders Petr Sykora and Jan Cerny will remain as managing directors of the company, which is based in the Czech Republic. Office Depot sells in 36 countries and has affiliates in another five. It operates 1,071 stores in North America and 322 internationally as of July 1. Shares of Office Depot rose 13 cents to $36.75 at 1:17 p.m. in New York Stock Exchange composite trading. The stock has risen 17% this year. (Bloomberg)

ADVERTISEMENT

Consumer, business confidence reach 2-year high - GKI Analysis

Consumer, business confidence reach 2-year high - GKI

Parl't votes to phase out savings coops integration framewor... Parliament

Parl't votes to phase out savings coops integration framewor...

Roche Szolgáltató appoints P&C business partner lead Appointments

Roche Szolgáltató appoints P&C business partner lead

Budapest airport shuttle bus service expanded City

Budapest airport shuttle bus service expanded

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.