Mexico's Gigante subsidiary Office Depot acquires supplier for region
Mexican retail holding company Grupo Gigante said its joint-venture subsidiary Office Depot de Mexico acquired the operations of a supplier of stationery and office materials in Mexico, Costa Rica, El Salvador and Colombia.
Office Depot de Mexico bought the operations from privately held Colombian pulp-and-paper conglomerate Carvajal Internacional, paying a multiple of 0.21 times sales for the acquisition using its own cash flow.
Gigante said that with the acquisition, Office Depot de Mexico will increase its sales by an estimated $110 million a year.
Original source: Dow Jones