Aurelius's Office Depot to sell Spanish direct business to trade

Eliza Punshi
31 July 2020

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Aurelius Equity Opportunities-backed Office Depot has agreed to sell its Spanish direct business unit, which runs under the brand Viking, to Bruneau Spain, a subsidiary of France's Bruneau Group.

The transaction completes Office Depot's exit from the Spanish market and comes a week after the GP announced the sale of Office Depot's Spanish contract business unit to French provider of office supplies Lyreco.

Bruneau, a mail order company for office supplies, will integrate the business into its existing platform and further develop it.

The deal is Office Depot's fourth divestment in nine months and is part of the ongoing restructuring of the business which started under Aurelius' ownership.

In November 2019, the GP sold Office Depot's central and eastern European operations to Austria-based PBS. In May this year, it sold the company's Nordic division to the company's CEO Klaus Egholm in a management buyout.

Following the restructuring, the company plans to focus on its core European e-commerce activities.

Aurelius Equity Opportunities is a listed entity that focuses on investing in mid-market corporate carve-outs and platform build-ups in a broad range of industries. It currently has 22 portfolio companies based across Europe.

Company
Headquartered in Venlo, Office Depot provides companies with office supplies, furniture and stationery. The business markets its products under two main brands: Office Depot and Viking. It has retail outlets in France and Sweden, and operates in 30 European countries, employing 6,000 staff.

The Spanish direct business of Office Depot provides office supplies to international and Spanish companies operating across various industries.