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Daily News

Staples Expands European Presence
Oct 21, 2002
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Staples, Inc., based in Framingham, MA, U.S., said today it completed of its acquisition of the mail order business of Guilbert, a subsidiary of Pinault Printemps Redoute SA, and a leading direct mail office products reseller to small businesses in Europe. The company says this expansion positions it for profitable growth through both retail and delivery channels in key European markets.

Staples is a U.S. $11 billion retailer of office supplies, furniture and technology to consumers and businesses in North America and Europe.

"The addition of Guilbert's mail order business gives us a world-class delivery operation in Europe and creates instant momentum toward revenue growth and improved profitability in the region," said Ron Sargent, Staples' president and CEO. "Guilbert is a great complement to our European retail operation and a key part of our long-term growth strategy."

The strategic move immediately establishes Staples as a leading company in the fast-growing office supplies mail order market in France, Italy, Spain and Belgium and strengthens a growing mail order presence in the United Kingdom.

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