Done deal: Staples goes private

Staples is done trading on Nasdaq.



Sycamore Partners announced that it has completed its acquisition of the office supply giant. Under the terms of the deal, which was announced in June, Staples was acquired by the private equity firm in a transaction valued at approximately $6.9 billion.



"We are pleased to have completed this transaction and look forward to partnering with CEO Shira Goodman and the Staples management team as we seek to increase long-term profitability," said Stefan Kaluzny, managing director of Sycamore Partners. “With the support of its dedicated associates, Staples is well-positioned to leverage its iconic brand and leading competitive position to drive even greater value for its business-to-business and retail customers in the U.S. and Canada.”



In May 2016, Staples abandoned its quest to acquire rival Office Depot for some $6.3 billion amid antitrust concerns by the Federal Trade Commission. As a result of the completion of the merger, the common stock of Staples will no longer be listed for trading on Nasdaq.



"We look forward to benefitting from Sycamore Partners’ retail and wholesale experience as we work together to deliver exceptional products, services and expertise that enable businesses to work better," Goodman said.