ODP Corp. and Office Depot go private in $1 billion sale to Atlas Holdings

Private equity firm Atlas Holdings is acquiring The ODP Corp., parent of Office Depot, in an all-cash deal valued at approximately $1 billion.

The agreement underscores ODP’s ongoing pivot from retail office supplies toward its growing business-to-business (B2B) ecommerce and distribution operations. Atlas will pay $28 per share for ODP’s 30.08 million outstanding shares. The companies expect to close the transaction by year’s end. That deal comes as ODP’s market value has shrunk from more than $5 billion a decade ago, reflecting declining consumer demand for paper, printers, and related supplies.

ODP Corp., Office Depot go private in $1B sale to Atlas Holdings

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