Staples makes first strategic acquisition as private company
Photo/Grant Welker
Staples' Framingham headquarters
Framingham office supply retailer Staples has acquired a Tennessee office products dealer in its first acquisition since going private last year.
Independently-owned HiTouch Business Services will now become part of the Staples Business Advantage delivery organization, widening the product inventory for both companies.
Terms of the deal were not disclosed.
HiTouch’s marketplace website will continue to be operated as an independent platform by the HiTouch management team while helping Staples expand into alternative distribution channels.
In a statement, Staples CEO Sandy Douglas said Staples will bring more robust capabilities and a higher level of service to HiTouch.
Douglas said the transaction could be the first of many, as Staples will seek out more strategic opportunities like this one to help create better options for businesses’ office supply needs.
It’s the first transaction for Douglas -- who came aboard in April -- and the company as a private organization after the once-public company was taken private last fall for $6.9 billion by New York investment firm Sycamore Partners.
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