Office Max |BEST|
OfficeMax is an American office supplies retailer founded in 1988. It is now a subsidiary of The ODP Corporation, which is headquartered in Boca Raton, Florida. As of December 2012, OfficeMax operated 941 stores in 47 states, Puerto Rico, the U.S. Virgin Islands and Mexico. In 2012, net sales were $6.9 billion, down from $8.3 billion in 2008.
On February 20, 2013, an all-stock merger between Office Depot and OfficeMax was announced. The merger was completed on November 5, 2013, creating the largest U.S. office-supplies chain. The OfficeMax name continues to serve as a brand of The ODP Corporation.
On April 1, 1988, OfficeMax was founded in Cleveland, Ohio, by Bob Hurwitz and Michael Feuer. Hurwitz served as executive chairman and chief executive officer, and Feuer was the president and chief operating officer. On July 5, 1988, OfficeMax opened its first retail store in the Golden Gate Shopping Center in Mayfield Heights, Ohio; after being open for 27 years, this location closed on May 16, 2015. Hurwitz left the company in 1993 and Feuer became the chairman and chief executive officer.
It was announced February 20, 2013, that OfficeMax and Office Depot would combine in an all-stock deal, creating the largest U.S. office-supplies chain. However, as of May 2, 2013, a lawsuit filed by a stockholder, Hollander v. OfficeMax Inc et al., U.S. District Court, Northern District of Illinois, No. 13-3330 was filed to block the merger, which would pay all OfficeMax shareholders 2.69 shares of Office Depot in exchange for a single share in OfficeMax. Eric Hollander said in a statement "OfficeMax, if properly exposed to the market for corporate control, would bring a price materially in excess of the amount offered in the proposed transaction..." Office Depot said on May 5, 2013, that it would hold a special meeting with shareholders after the staff of the U.S. Securities and Exchange Commission finished reviewing documents relating to its merger with OfficeMax. On November 5, 2013, the merger was completed. On December 10, 2013, Office Depot, Inc. announced that it had chosen Boca Raton, Florida for its global headquarters post-merger, closing the OfficeMax headquarters in Naperville, IL.
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The move would combine the No. 2 and No. 3 office supply retailer and lead to consolidation in an industry that analysts have said for years is overstored. It reflects the changing retail landscape as "big box" stores become outmoded and more people shop online.
But the rise of Web retailers like Amazon.com and more expansion into office supply categories by discounters like Costco and Wal-Mart has been tough on the sector. In addition, office suppliers were slow to bounce back from the recession, as consumers and small businesses alike cut back on ordering office products.
"We think a potential merger would result in a significant number of store closings, and thus an improvement in the overall economics of the office supply retail business," said S&P analyst Ian Gordon on Tuesday. "This area has been under pressure from a weak business spending environment and competition from non-traditional channels like Amazon in our view."
The office supply sector is worth about $21.2 billion, according to research firm IBISWorld Inc. in Santa Monica, Calif. Of that, Staples holds a 35 percent market share, Office Depot 26.1 and Office Max 15.6.
The deal still has to go through shareholder and regulatory approvals, and office supply mergers have been questioned by regulators in the past. In 1997, Staples Inc. attempted to buy Office Depot but the deal was nixed by the Federal Trade Commission due to concerns the combined company would have too much of a competitive advantage in the marketplace.
Get quality office products and back-to-school gear with Office Depot and OfficeMax. This company provides everything you need to succeed in school or in the office. Purchase company products online or at one of their dozens of brick-and-mortar stores across the country.
Attorneys need office supplies. Lots of them.And thanks to our partnership with Office Depot and OfficeMax, ACBA members can enjoy steep discounts on office supplies. Everything from paper and pens to computers and printing services.ACBA members have long received discounts at Office Depot and OfficeMax, but thanks to a revamped partnership, these discounts are now greater than ever. Members can save up to 55 percent off of standard retail prices, and the discounts are available both online and in-person at Office Depot and OfficeMax locations. Individual ACBA members and entire law firms can enjoy these discounts. 041b061a72