Atlas Holdings Completes Acquisition of The ODP Corporation; Craig Gunckel Named Chief Executive Officer

Core Insights - Atlas Holdings has completed the acquisition of The ODP Corporation in an all-cash transaction valued at approximately $1 billion [1] - Craig Gunckel has been appointed as the new CEO of ODP, bringing nearly three decades of leadership experience in the paper and packaging industry [2] - The ODP Corporation is now a private and independently operated company, with its common stock ceasing to trade on the NASDAQ [4] Company Overview - The ODP Corporation is a leading provider of products, services, and technology solutions through an integrated B2B distribution platform and omnichannel presence, including Office Depot and OfficeMax retail stores [6] - Atlas Holdings operates 30 companies employing over 75,000 associates across 1,200 facilities worldwide, generating more than $26 billion in annual revenues [7] Leadership and Strategy - Gunckel aims to refocus ODP on its core businesses, Office Depot OfficeMax and ODP Business Solutions, with a commitment to sustainable, profitable growth [4] - Michael Sher, Managing Partner at Atlas Holdings, expressed confidence in ODP's potential as a private company to execute strategies that will enhance its market position [4]