ODP Corp.
ODP Corp., the holding company for Office Depot-Office Max, announced Wednesday that it will split the company into two separate, publicly-traded companies — one for its retail consumer and small business products and one for its distribution operations — in the first half of next year.
Amid an acquisition pursuit by rival office supplies giant Staples, ODP said its board of directors unanimously approved the separation plan that will allow the two companies to "pursue market opportunities, accelerate growth and unlock significant value for shareholders and all stakeholders."
Upon the separation, the two companies will be:
ODP – a provider of retail consumer and small business products and services, distributed via approximately 1,100 Office Depot and OfficeMax retail locations and via e-commerce from officedepot.com