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Office Depot announced that it has acquired Papirius s.r.o., one of the largest business-to-business suppliers of office products and services in Eastern Europe. Financial terms of the acquisition were not disclosed.
Papirius has annual revenues of more than $56 million, with operations in the Czech Republic, Lithuania, Hungary, and Slovakia. Product offerings include paper and envelopes, filing components, toner, office furniture, writing instruments, cleaning supplies, refreshments and professional services.
"This acquisition extends Office Depot's global reach and strengthens our presence in key international markets," said Charles Brown, president, Office Depot International. "Papirius' leadership in delivering a wide range of products and services to small businesses throughout Eastern Europe enhances Office Depot's competitive position within this increasingly important region."
"Papirius and Office Depot share the same passion for providing innovative products and services to help customers grow and prosper," said Petr Sykora, managing director and co-founder of Papirius. "Combining Office Depot's multi-channel sales expertise with the current infrastructure of Papirius will give customers throughout Eastern Europe a wider array of solutions to keep their businesses operating with ease, efficiency, and superior customer service."
Papirius, with more than 540 associates throughout Eastern Europe, will operate under the Office Depot International Division. Co-founders Petr Sykora and Jan Cerny will continue in their roles as managing directors for Papirius.
