Office Depot Parent Co Agrees to Acquisition Valuing It at $1 Billion

Core Insights - The ODP Corporation is set to be acquired by an affiliate of Atlas Holdings for approximately $1 billion, transitioning to a private company by the end of the year, subject to customary closing conditions [2][3][4] Company Performance - In Q2, The ODP Corporation reported sales of $1.6 billion, an 8% decline year-over-year, primarily due to 60 fewer retail stores and reduced consumer traffic [5] - The company noted improvements in same-store sales trends in its consumer segment and a 200-basis point improvement in year-over-year revenue trends in its B2B distribution business, driven by new customer traction and expansion into the hospitality sector [6]