Office Depot Announces Sale of Its Hungary Business to Central Fund Venture Capital Fund
Buyer will Continue to use Office Depot's Trade Names, Obtain Sourcing Services, and Support Office Depot's Global Customers in Hungary
BOCA RATON, Fla.--(BUSINESS WIRE)-- Office Depot (NYS: ODP) , a leading global provider of office supplies and services, announced today that it has entered into an agreement to sell its Office Depot Hungary business to Central Fund Venture Capital Fund. The transaction also includes an agreement for Central Fund to use Office Depot's trade names, obtain sourcing services and continue to support Office Depot's global customers in Hungary.
Central Fund Venture Capital Fund is the first privately owned Venture Capital Fund in Hungary. It invests in small- and medium-sized companies in Hungary.
Office Depot Hungary started as a licensed operation in 1997 and was established in 2004 as a wholly owned subsidiary of Office Depot, Inc. The Company serves a wide variety of customers in Hungary including small- and medium-sized businesses and global accounts.
About Office Depot
Office Depot provides office supplies and services through 1,675 worldwide retail stores, a dedicated sales force, top-rated catalogs, and global e-commerce operations. Office Depot has annual sales of approximately $11.5 billion, employs about 39,000 associates, and serves customers in 60 countries around the world.
Office Depot's common stock is listed on the New York Stock Exchange under the symbol ODP. Additional press information can be found at: http://mediarelations.officedepot.com and http://socialpress.officedepot.com/.
Donald Mears, 561-438-7054
KEYWORDS: United States Europe North America Florida Hungary
The article Office Depot Announces Sale of Its Hungary Business to Central Fund Venture Capital Fund originally appeared on Fool.com.
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