OT Group acquires part of Office Depot's UK and Ireland contract business
Workplace solutions and business services provider OT Group Limited has today agreed to acquire Office Depot Europe’s larger mid-market, major and public sector contract customers in the UK and Ireland. This is subject to a TUPE consultation process with the Office Depot employees which will commence immediately.
OT Group is part of Paragon Group and incorporates the OfficeTeam, OT Wholesale, Zen Office and Spicers Ireland businesses.
The acquired Office Depot Europe contract customers in the UK and Ireland will be integrated into OT Group.
The deal extends OT Group’s capacity to serve its customers through the addition of state-of-the-art warehousing facilities and new key verticals. OT Group will also enter a collaboration agreement with Office Depot Europe, servicing the international customers that will be transferred as part of the deal.
As part of the transaction, OT Group will take on Office Depot Europe’s distribution centre in Ashton-under-Lyne, Manchester and the headquarters of Vital Communications, Office Depot’s print, marketing & communications business in Dartford, Kent.
Associated colleagues at both sites, as well as a dedicated sales and customer service team, will transfer to the OT Group in UK and Ireland.
“We look forward to welcoming our new customers and colleagues to the OT Group, once the TUPE consultation has concluded. Office Depot will add a wealth of experience and knowledge to our extended range of workplace solutions and business services. This acquisition aligns with our ambitious growth strategy, as well as our plans to expand operations throughout Europe. The needs of our customers is our key priority. We would like to reassure all current OT Group and affected Office Depot Europe customers that we are planning a seamless transition during the integration period.”
Andrew Jones, CEO of OT Group
“We are pleased to have entered into this agreement with OT Group. This transaction will further accelerate our strategic transformation whilst ensuring continuity of service for our UK and Ireland contract customers focused on bespoke solutions, and a bright future with OT Group for our colleagues.”
Raffael Reinhold, CEO of Office Depot Europe
“We are delighted to welcome Office Depot Europe customers and colleagues to the Paragon Group. This acquisition allows us to develop new and innovative solutions and products for our customers. Operationally and financially, Paragon is a strong, disciplined and ambitious company and prides itself on being customer focused. Together, we deliver the future of Workplace Solutions and Business Services.”
Sean Shine, CEO of Paragon Group