Office Depot gets go ahead for French move
US retailer given EC approval for Guilbert acquisition
May 23 2003
Office Depot has been given the go ahead to add French rival Guilbert to its growing European operations.
The European Commission approved the €815m deal agreed by the US office specialist and Guilbert owner French retailer Pinault-Printemps-Redoute.
With Office Depot also owning the Viking direct delivery business in the UK, the EC ruled that the expanded business would have a strong position in France and the UK, but would still “face sufficient competitive pressure from competing companies.”
Guilbert specialises in contract stationery supply, selling to France, the UK, Germany, Italy, Spain, Belgium and Ireland.
The deal doubles the size of Office Depot’s business in Europe, where as well as Viking, it already operates 37 stores in France. However, Guilbert’s mail-order business was sold in a separate €825m deal last year to Office Depot’s largest rival, Staples.
