Office Max to be acquired by Platinum Equity, the investment firm that bought Staples Australia

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Office Max to be acquired by Platinum Equity, the investment firm that bought Staples Australia

The global investment firm that will acquire the Australian Staples business has announced its latest acquisition down under.

Platinum Equity has signed an agreement to acquire Office Max from its US parent company Office Depot for an undisclosed amount.

The acquisition is still subject to regulatory approval in each country, but is expected to close within the next several months.

Office Max has 11 stores in Australia and sells print hardware and accessories, as well as technology like laptops and PCs from the likes of Apple, HP and Lenovo.

Platinum principal Adam Cooper said the company was pleased to provide Office Depot with a solution to divest the business.

“We look forward to working with the OfficeMax management team to continue improving the company’s offering, enhancing the customer experience and driving sustainable growth.”

Platinum announced plans to buy the Staples Australia business last month for an undisclosed amount, adding 32 stores across Australia and New Zealand along with an enterprise technology business that was named Lenovo's Australian partner of the year in 2016 and 2017.

Platinum already has a presence in Australia, owning a 70 percent stake in Telstra's directories business Sensis.

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