Toy market news

Staples Solutions and Lyreco sign agreement to sell Norwegian, Swedish, Danish, German, Austrian and Polish business units

Staples Solutions has announced that it has entered into an agreement with Lyreco, a leading distributor of office products, to sell Staples Solutions' business units in Norway, Sweden, Denmark, Germany, Austria and Poland, as well as its central support services (including IT, eCommerce, Merchandising, Supply Chain Planning and Finance) primarily located in Poland and The Netherlands. The intended sale is subject to completion of certain employee consultation and regulatory procedures.

"I could not be more pleased that we found such a strong match with Lyreco, a major player in our industry. Staples Solutions has been on a remarkable journey after separating from its US parent more than four years ago. We put the customer at the core of our decision making, we broadened our workspace solutions, we localized and simplified our operations; returning to profitability at the end of last year. We have become a better business, and reached a natural point in our journey for this transaction. I know that our people will continue to thrive and contribute to Lyreco's success," said Dolph Westerbos, Chief Executive Officer at Staples Solutions.

"The Staples Solution team is a highly recognized one within our industry, and we share the same Passion for our customers. I am very much looking forward to welcoming them within our organization to put our common energy together to deliver excellence. I am convinced that this intended acquisition will enable us to provide an even better service to customers of both our companies," states Greg Liénard, Chief Executive Officer at Lyreco.