Manufacturing and distribution group Atlas Holdings last month closed on its previously announced acquisition of ODP Corp., the owner of office supply retailers Office Depot and OfficeMax.
The $1 billion deal, originally announced in September, included those chains in the U.S. and Canada, as well as ODP’s “vast B2B distribution network across North America.”
Atlas also announced a change in leadership at its newly acquired business: Gerry Smith departed as ODP CEO at closing, and former Iconex and WestRock executive Craig Gunckel was named to succeed him.
Gunckel said in the announcement that the deal marks “the start of an exciting new chapter for ODP as a private and infinitely more agile business.”
“With a refreshed strategy, commitment to our customers and Atlas behind us as our long-term partner, we’ll bring renewed focus and discipline to how we operate, support our people and drive sustainable, profitable growth on both sides of the business,” Gunkel said.
