The ODP Corporation, a parent company of Office Depot, announced that it intends to separate its retail and business-to-business organizations and take them public independent of one another.
This separation would allow Office Depot, Ofice Max, and relevant e-commerce platforms to form one company. The other company will sell office supplies to small, medium, and large-scale businesses. Board members of The ODP Corporation indicated that separating the businesses will allow the respective organizations to pursue different opportunities and accelerate growth.
"We believe creating two focused, pure-play companies will unlock significant opportunities by improving our ability to meet the needs of our customers, while better matching assets and investment profiles of both companies to generate greater value for our shareholders,” said Gerry Smith, the Cheif Executive Officer of The ODP Corporation.
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