Essendant To Buy More Than $550 Mln Of Office Products Revenue, Related Assets

(RTTNews) - Essendant Inc. (ESND) announced an agreement to purchase from Staples, Inc. (SPLS) contracts with minority and woman-owned office supply resellers and their large corporate and other enterprise customers representing sales of more than $550 million annually. Essendant will pay Staples approximately $22.5 million.

Essendant said the transaction is subject to the successful completion of the proposed merger of Staples and Office Depot. The commercial business and assets relate primarily to accounts held by Staples and Office Depot acting as wholesalers to minority and woman-owned office supply resellers.