Office Depot, Office Max turn to Boston Consulting Group for help with merger
Office Depot Inc. and OfficeMax Inc., two rivals of Framingham-based Staples Inc. in the office supply business, said that the Boston Consulting Group, a global management consulting firm, has been selected to provide integration support for the companies’ proposed merger.
Earlier this year, Office Depot unveiled a $1.2 billion bid for OfficeMax — in an attempt by the smaller rivals to better compete against Staples, which is the largest office supplies chain with about 2,300 stores worldwide and 39 percent of the US market, according to IBISWorld, a market research firm.
When that deal was announced in February, some industry analysts said that Staples would benefit from the proposed “merger of equals” because the deal would likely result in hundreds of store closures where OfficeMax and Office Depot have overlapping outlets, a Globe story noted then.
The transaction is expected to close by the end of the year.
In their May 23 press release, Office Depot and OfficeMax said, “The Boston Consulting Group will be responsible for working with the management teams from both companies to help define the priorities, vision, and guiding principles of the integration process. They will work closely with the two companies’ integration leaders to establish a detailed integration plan that includes defining Day 1 priorities, preparing functional and synergy planning timelines, refining and establishing baseline and top-down synergies, conducting a culture assessment, and supporting the development of change management and communication plans.”Chris Reidy can be reached at email@example.com.