Office Depot buying Svanstroms Gruppen

Boca Raton, Fla. -- Office Depot is buying Swedish office supply company Svanstroms Gruppen in order to expand its presence there.



Terms were not disclosed.



Office Depot first entered the Swedish market in 2004 through a strategic alliance with AGE Kontor & Data AB.



"We've been successful in this market and see continued growth and high potential in the region," said Charlie Brown, president of Office Depot's international division, said in a statement on Tuesday.



Svanstroms Gruppen, owned by Mellby Gaard Industri AB, has expanded through some sector buyouts, including Wettergrens and Killbergs.



The acquisition must receive clearance from the Swedish antitrust authority.