Office Depot To Go Private In $1 Billion Cash Deal With Atlas Holdings
Synopsis
The acquisition is expected to accelerate Office Depot’s business-to-business growth and provide additional resources for operational improvements, according to CEO Gerry Smith.
Office Depot (ODP) announced Monday it has agreed to be acquired by an affiliate of Atlas Holdings for $28 per share in cash, valuing the company at roughly $1 billion.
The company said the purchase price represents a 34% premium over Office Depot’s closing share price on Sept. 19, 2025. Upon completion, Office Depot will be delisted from the Nasdaq and will operate as a privately held company.
“This transaction, fully supported by our Board, provides a substantial premium for The ODP Corporation’s shareholders and will improve the company’s position for the next phase of growth,” said CEO Gerry Smith. He added that Atlas brings operational expertise, resources, and a proven track record of supporting companies, which will accelerate Office Depot’s B2B growth initiatives and strengthen its position as a trusted partner for customers.
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