Staples, Inc. Expands European Presence with Strategic Acquisition of Guilbert's Mail Order Business.Business Editors FRAMINGHAM, Mass.--(BUSINESS WIRE)--Oct. 21, 2002 Staples Gains Significant Platform For Growth In Europe With A New Leadership Position In The World's Second Largest Office Supply Market Staples, Inc. (Nasdaq: SPLS) announced today the completion of its acquisition of the mail order business of Guilbert, a subsidiary of Pinault Printemps Redoute SA, and a leading direct mail office products reseller An organization that sells hardware and software to the general public. Resellers purchase products from software publishers and hardware manufacturers. to small businesses in Europe. With this expansion, Staples is now positioned for profitable growth through both retail and delivery channels in key European markets. "The addition of Guilbert's mail order business gives us a world-class delivery operation in Europe and creates instant momentum toward revenue growth and improved profitability in the region," said Ron Sargent, Staples' president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "Guilbert is a great complement to our European retail operation and a key part of our long-term growth strategy." The strategic move immediately establishes Staples as a leading company in the fast-growing office supplies Office supplies is the generic term that refers to all supplies regularly used in offices by businesses and other organizations, from private citizens to governments, who works with the collection, refinement, and output of information (colloquially referred to as "paper work"). mail order market in France, Italy, Spain and Belgium and strengthens a growing mail order presence in the United Kingdom. The acquisition is an important step in expanding Staples' delivery business in Europe. In addition to being a significant platform for growth, the combined company's synergistic synergistic /syn·er·gis·tic/ (sin?er-jis´tik) 1. acting together. 2. enhancing the effect of another force or agent. syn·er·gis·tic adj. 1. and best practice benefits are expected to achieve a return on net assets (abbreviated to RONA) Profit after tax / ( Fixed assets + working capital ) It is a measure of financial performance of a company which takes the use of assets into account. See also
"Our European business is now poised to achieve new levels of performance," said Basil Anderson, Staples' vice chairman. "Guilbert's mail order business brings Staples a strong management team, led by Salvatore Perri, as well as 800,000 new and active customers." To maximize the business opportunities and provide even greater depth to Staples' European team, Bill Swanson assumes the position of senior vice president of finance for Staples' European Mail Order Business. Swanson will report directly to Salvatore Perri, president of Staples' European Mail Order Business. Perri reports to Basil Anderson. Swanson was most recently Staples' senior vice president and treasurer. Previously, he served in various finance positions from 1984 to 2000 at Quill quill: see pen. Corporation, which was acquired by Staples in 1998. Swanson played an instrumental role during Staples' integration of Quill, which is a business with many similarities to the mail order business of Guilbert. "We welcome Bill and the proven finance and business integration skills he brings to our management team," said Perri, who was the former chief executive officer of Guilbert's mail order business before assuming his new role. "He joins a team that is committed to maximizing opportunities for synergy The enhanced result of two or more people, groups or organizations working together. In other words, one and one equals three! It comes from the Greek "synergia," which means joint work and cooperative action. and strengthening Staples' multi-channel position in Europe." About Staples Staples, Inc. is an $11 billion retailer of office supplies, business services, furniture and technology to consumers and businesses from home-based businesses to Fortune 500 companies in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Canada, the United Kingdom, France, Italy, Spain, Belgium, Germany, the Netherlands and Portugal. Headquartered outside Boston, Staples invented the office superstore su·per·store n. A very large retail store that stocks highly diversified merchandise, such as groceries, toys, and camera equipment, or a wide variety of mechandise in a specific product line, such as computers or sporting goods. concept and today is the largest operator of office superstores This is a list of superstores by country. Multi-national
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