Office Depot to Sell Japanese Division

Boca Raton, Fla.-based Office Depot Inc. has entered into an agreement to sell its Office Depot Japan business to Japanese distribution company Kakuyasu for an undisclosed amount. The transaction also includes an agreement for Kakuyasu to 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 multi-channel business, distribution network and local expertise, will significantly strengthen our competitive position in this market," said Charlie Brown, president of the international division of Office Depot. SAVE | EMAIL