LOS ANGELES (April 28, 2017) — Platinum Equity today announced it has completed the acquisition of the Staples business in Australia and New Zealand from Staples, Inc. (NASDAQ: SPLS) for an undisclosed sum.
Staples is a supplier of business products, services and solutions in Australia and New Zealand. The company serves a diverse variety of customers, ranging from small-and-medium businesses to large enterprises, including federal, state and territory levels of government in both countries.
Following the transition to new ownership, the acquired business will continue to operate under the Staples brand in Australia and New Zealand for a short period of time while a new corporate brand is created.
About Platinum Equity
Founded in 1995 by Tom Gores, Platinum Equity (www.platinumequity.com) is a global investment firm with more than $11 billion of assets under management and a portfolio of approximately 30 operating companies that serve customers around the world. The firm is currently investing from Platinum Equity Capital Partners IV, a $6.5 billion global buyout fund. Platinum Equity specializes in mergers, acquisitions and operations – a trademarked strategy it calls M&A&O® – acquiring and operating companies in a broad range of business markets, including manufacturing, distribution, transportation and logistics, equipment rental, metals services, media and entertainment, technology, telecommunications and other industries. Over the past 20 years Platinum Equity has completed more than 185 acquisitions.