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Office Depot's corporate headquarters in Boca Raton, Florida
|Founder||F. Patrick Sher|
|Headquarters||Boca Raton, Florida, United States|
Number of locations
|1,378 (December 2017)|
|Products||Office supplies, Technology, Furniture, Copy & Print, Shipping Services|
|Brands||Office Depot, OfficeMax, Grand & Toy, Viking Direct, Ativa, TUL, Foray, Realspace, DiVOGA|
|Revenue||US$10.240 billion (2017)|
|US$341 million (2017)|
|US$181 million (2017)|
|US$6.323 billion (2017)|
|US$2.120 billion (2017)|
Number of employees
|~45,000 (January 2018)|
Grand & Toy
Office Depot, Inc. is an American office supply retailing company headquartered in Boca Raton, Florida, United States. The company has combined annual sales of approximately $14 billion, and employs about 66,000 associates with businesses in 59 countries. The company operates 1,400 retail stores, e-commerce sites and a business-to-business sales organization.
Office Depot was founded in October 1986 by F. Patrick Sher, Stephen Doughtery, and Jack Kopkin, who became the company's chairman and chief executive officer, the president, and executive vice president respectively. All three were formerly associated with Mr. HOW Warehouse, a home improvement company that Sher sold to Service Merchandise in 1983. The first store, located at the Lakes Mall in Lauderdale Lakes, Florida, opened in October 1986.
Office Depot entered the European and Australian direct mail market after acquiring Viking Direct in 1998. In 2002, Viking Direct expanded to Central America with new retail stores in El Salvador, Guatemala, and Costa Rica through a joint licensing agreement.
On February 20, 2013, it was announced that Office Depot and OfficeMax would combine in an all stock deal, pending regulatory approval and stockholder approval. The merger was completed on November 5, 2013.
In 2014, Office Depot announced the closure of 400 stores due to declining sales and customer migration to e-retailers.
On February 4, 2015, it was announced that rival Staples had agreed to purchase Office Depot, in a cash and stock deal worth approximately $6.3 billion. However, the Federal Trade Commission voted to block the merger in December 2015. The United States District Court for the District of Columbia granted the FTC a preliminary injunction against the merger on May 10, 2016, resulting in the proposed merger's termination.
Office Depot reduced its electricity and absolute carbon-dioxide emissions from North American facilities by over 10% in 2006 after a $20 million investment in energy efficiency initiatives.
In January 2005, Office Depot became a partner of NASCAR, with the title "Official Office Products Partner of NASCAR". In the same year, the company signed on as the primary sponsor of the #99 Ford Fusion, owned by Roush Fenway Racing and previously driven by Carl Edwards. They sponsored Edwards until the end of the 2008 NASCAR Sprint Cup Series season. In December 2008, Office Depot announced that it would become the co-primary sponsor for Tony Stewart and the No. 14 Chevrolet at Stewart-Haas Racing in 2009. In September 2012, Office Depot announced it would not renew sponsorship with Tony Stewart or Stewart-Haas Racing.