Staples Solutions divest its operations in Finland to Wulff and in Portugal to Firmo


Amsterdam, Netherlands - 4th May 2021 - Staples Solutions B.V. announced today that it has divested its operations in Finland (link to press release) and in Portugal (link to press release) to buyers Wulff and Firmo respectively. Both transactions concluded yesterday. Wulff and Firmo are strong industry players in Finland and Portugal and are a strategic fit to Staples’ operations.

We believe that these transactions provides the best long term opportunity for our talented Portuguese and Finnish teams to continue to deliver the right solutions for our customers” said Dolph Westerbos, Chief Executive Officer of Staples Solutions. “I am pleased we found such excellent partners in Wulff and Firmo”.

With these further transactions Staples Solutions is progressing well on the journey to exit the business announced in March (link to press release).  The announced transaction with Lyreco is progressing as planned (link to press release). That leaves the company with its operations in the Benelux;  a sale process is underway to complete this final divestment.


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About Staples Solutions
Staples Solutions is a leading provider of workplace products, services, and solutions to small, mid-sized, and large businesses in Europe. Through our integrated offering, Staples Solutions is the partner of choice to meet the diverse needs of the workplace of today and tomorrow. You can learn more about Staples Solutions at www.staples.eu.

About the buyers
Wulff
is a well-known Finnish company and the only publicly listed company in the industry with operations in all Nordic countries. Their mission is creating a better world – one workplace at a time. Wulff makes better working environments possible and help make a workplace where ever it is these days. Wulff offers a wide selection of workplace products and services. You can learn more about Wulff at https://www.wulff.fi/en/

Firmo is a well-known Portuguese company from Porto, one of the top companies in the trade of school, stationery and office items, with more than 70 years of tradition in the national and international market. Besides being a manufacturer Firmo operates several channels: online, two (2) cash & carry stores and also wholesale and export. You can learn more about Firmo at https://www.firmo.pt and https://www.youtube.com/watch?v=ZR8XrYqiuXI.

Firmo is being backed by ActiveCap (www.activecap.pt) - a Portuguese private equity company specialised in the growth capital segment - investing through its fund ActiveCap I – Portuguese Growth Fund.

For media inquiries contact:
Frans Kools
Frans.Kools@Staples-Solutions.com
+31 6 2044 1480