For Jack Ma, executive chairman of Alibaba Group Holdings, today is an extremely busy and lucrative day because the company he founded 15 years ...
The unit will be bought by multichannel liquor retailer Kakuyasu.
Office Depot Inc. will sell its Office Depot Japan business to Kakuyasu, a Japan-based multichannel retailer that sells liquor. Office Depot did not say how much it sold its Japanese unit for.
Office Depot is No. 5 in the Internet Retailer Top 500 Guide. The office supply chain says Kakuyasu had sales of $775 million last year.
Kakuyasu will license Office Depot’s trade names, obtain sourcing services and continue to support Office Depot’s global customers in Japan.
“We believe the combination of Office Depot’s brand, merchandising and sourcing capabilities, coupled with Kakuyasu’s multichannel business, distribution network and local expertise, will significantly strengthen our competitive position in this market,” says Charlie Brown, president of the international division of Office Depot.
Office Depot Japan was established in 1996 and is a wholly owned subsidiary of Office Depot Inc. Japan-based Gotairiku Partners acted as the seller’s advisor for the transaction.