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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.