Menu
Microsoft strongly encourages users to switch to a different browser than Internet Explorer as it no longer meets modern web and security standards. Therefore we cannot guarantee that our site fully works in Internet Explorer. You can use Chrome or Firefox instead.

DGAP-News: AURELIUS subsidiary Office Depot Europe announces divestment of its Nordics business


Try our new sharewise academy

Learn everything about the market

DGAP-News: AURELIUS Equity Opportunities SE & Co. KGaA / Key word(s): Disposal
AURELIUS subsidiary Office Depot Europe announces divestment of its Nordics business

14.05.2020 / 17:00
The issuer is solely responsible for the content of this announcement.


AURELIUS subsidiary Office Depot Europe announces divestment of its Nordics business

Munich/Venlo, May 14, 2020 - Office Depot Europe, a portfolio company of AURELIUS Equity Opportunities SE & Co. KGaA (ISIN: DE000A0JK2A8) completed the divestment of Office Depot Nordics to CEO Frank Egholm in a family-office backed Management Buy-Out transaction. The business, also servicing other Nordic markets as well as its core business in Sweden, is set to benefit from further growth due to its strong market position and solid financing.

A successful transformation lays the foundation for the MBO
Office Depot Europe's decision to divest its business in Sweden and the wider Nordics region comes after a successful transformation of the business since its acquisition by AURELIUS in January 2017. Since then, Office Depot's Nordics business has expanded its product and service offerings, its retail channel has been integrated into a multi-channel approach, and the business has continued to foster its position among the top 3 leading players in its core market, Sweden.

The goal is to become a market leader
Frank Egholm and the management team are excited to take on the next chapter in Office Depot Nordic's growth and have great plans for the future, involving the continued digitalisation, product innovation and increased focus on servicing customers across all channels. Entering a MBO transaction is a firm testament of the parties' confidence in the strength and profitability of the business.

"I'm truly excited to have this opportunity because Office Depot Nordic is a fantastic company. We have come a long way the past few years, but there is still a great potential for evolving the business further. This change will fuel our ambitions of becoming an even more successful player in the Swedish market, and this deal marks an important milestone for us all in achieving that goal. We already have a great team in place to take us there. Our employees are our best asset and we as a management team are ready for the challenge. I'm very pleased to be a part of Office Depot Nordics' future, says Frank Egholm".

Divestment of Nordics division follows the earlier divestment of the CEE division
Office Depot Europe exited its CEE (Central Eastern European) business in November 2019. The transaction also followed a very successful transformation, positioning Office Depot CEE as the local market leader with a wide array of B2B products and services. The exit of Office Depot's Nordics division follows the same strategic rationale, freeing resources to allow Office Depot Europe to focus on its stronghold European ecommerce centric business activities.

About Office Depot Nordics
Office Depot Nordics has its nucleus in Sweden. Together with the involvement of partners, it is also servicing customers in Norway, Denmark and Finland. With its 450 employees it is one of Sweden's largest office suppliers covering the Nordics. Office Depot Nordics provide business supplies and services to help their customers work better and become more productive and efficient at work - regardless of their workplace. They are a single source supplier of the latest technology, core office supplies, print, and document services, business services, facilities products, furniture, and school essentials.




Contact:
AURELIUS Group
Anke Banaschewski
Investor Relations & Corporate Communications
Phone: +49 (89) 544799-0
Fax: +49 (89) 544799-55
E-Mail: investor@aureliusinvest.de


14.05.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de


Language: English
Company: AURELIUS Equity Opportunities SE & Co. KGaA
Ludwig-Ganghofer-Straße 6
82031 Grünwald
Germany
Phone: +49 (0)89 544 799-0
Fax: +49 (0)89 544 799-55
E-mail: info@aureliusinvest.de
Internet: www.aureliusinvest.de
ISIN: DE000A0JK2A8
WKN: A0JK2A
Listed: Regulated Unofficial Market in Berlin, Frankfurt, Hamburg, Munich (m:access), Stuttgart, Tradegate Exchange
EQS News ID: 1044837

 
End of News DGAP News Service

1044837  14.05.2020 

fncls.ssp?fn=show_t_gif&application_id=1044837&application_name=news&site_id=sharewise

Aurelius AG Stock

€12.00
-0.500%
Aurelius AG shows a slight decrease today, losing -€0.060 (-0.500%) compared to yesterday.
We see a rather positive sentiment for Aurelius AG with 8 Buy predictions and 2 Sell predictions.
Based on the current price of €12.00 the target price of €32.00 shows a potential of 166.667% for Aurelius AG which would more than double the current price.
Like: 0
Share
EQS Group is a leading international provider of regulatory technology in the fields of corporate compliance and investor relations. In working with EQS Group, thousands of companies worldwide inspire trust by fulfilling complex national and international disclosure obligations, minimizing risks and communicating transparently with stakeholders.




Comments