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Office Depot to Sell Office Depot Japan to Kakuyasu

Thursday, December 16, 2010 10:51 am EST

Dateline:

BOCA RATON, Fla.

Public Company Information:

NYSE:
ODP
US6762201068
"We believe the combination of Office Depot’s brand, merchandising and sourcing capabilities, coupled with Kakuyasu’s multi-channel business, distribution network and local expertise, will significantly strengthen our competitive position in this market"

BOCA RATON, Fla.--(BUSINESS WIRE)--Office Depot, Inc. (NYSE:ODP), a leading global provider of office supplies and services, announced today that it has entered into an agreement to sell its Office Depot Japan business to Kakuyasu. The transaction also includes an agreement for Kakuyasu to license Office Depot’s trade names, obtain sourcing services and continue to support Office Depot’s global customers in Japan. Kakuyasu is one of the fastest growing and leading multi-channel businesses in Japan with FY 2009 sales of $775 million.

Office Depot Japan was established in 1996 and is a wholly owned subsidiary of Office Depot, Inc. The Company serves a wide variety of customers in Japan including small- and medium-sized businesses and global customers.

“We believe the combination of Office Depot’s brand, merchandising and sourcing capabilities, coupled with Kakuyasu’s multi-channel business, distribution network and local expertise, will significantly strengthen our competitive position in this market,” said Charlie Brown, President of the International Division of Office Depot.

Japan based Gotairiku Partners acted as the seller’s advisor in the transaction.

About Office Depot

Every day, Office Depot is Taking Care of Business for millions of customers around the globe. For the local corner store as well as Fortune 500 companies, Office Depot provides products and services to its customers through 1,600 worldwide retail stores, a dedicated sales force, top-rated catalogs and a $4.1 billion e-commerce operation. Office Depot has annual sales of approximately $12.1 billion, and employs about 41,000 associates around the world. The Company provides more office products and services to more customers in more countries than any other company, and currently sells to customers directly or through affiliates in 53 countries.

Office Depot’s common stock is listed on the New York Stock Exchange under the symbol ODP and is included in the S&P 500 Index. Additional press information can be found at: http://mediarelations.officedepot.com.

Contact:

Office Depot
Brian Turcotte, 561-438-3657
Investor Relations
Brian.Turcotte@officedepot.com
or
Mindy Kramer, 561-438-4276
Public Relations
Mindy.Kramer@officedepot.com