UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report July 9, 2001
Commission file number 1-10948
OFFICE DEPOT, INC.
(Exact name of registrant as specified in its charter)
Delaware 59-2663954
--------------------------------- --------- --------------------------
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
2200 Old Germantown Road, Delray Beach, Florida 33445
(Address of principal executive offices) (Zip Code)
(561) 438-4800
(Registrant's telephone number, including area code)
Former name or former address, if changed since last report: N/A
ITEM 5. OTHER EVENTS
On July 9, 2001, Office Depot, Inc. (the "Company") issued a press release
announcing that it plans to acquire the stock of privately held 4Sure.com, Inc.,
parent entity of Computers4Sure.com and Solutions4Sure.com. A copy of this press
release is attached hereto as Exhibit 99.1
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
99.1 Copy of press release dated and released July 9, 2001.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
OFFICE DEPOT, INC.
Date: July 10, 2001 By: /S/ DAVID C. FANNIN
David C. Fannin
Executive Vice President and
General Counsel
Exhibit 99.1
Press Release Dated July 9, 2001
OFFICE DEPOT(R) NEWS RELEASE
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INVESTOR CONTACT: Eileen Dunn
VP, Investor Relations & Public Relations
(561) 438-4930
edunn@officedepot.com
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MEDIA CONTACT: Lauren Garvey
Director of Media Relations
(561) 438-2895
lgarvey@officedepot.com
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Office Depot Announces Acquisition of Computers4Sure.com
And Solutions4Sure.com
o Strategic Addition in E-Commerce Sales of Technology Products and
Services
o Company to Operate as a Subsidiary of Office Depot and Plans to
Continue Niche Marketing and Dual Brand Strategy
o Bruce Martin to Continue as President of Subsidiary
(Delray Beach, FL) July 9, 2001 - Office Depot, Inc. (NYSE: ODP), the
world's largest seller of office products, today announced that it is
acquiring privately held 4Sure.com, Inc. and the businesses of its two
Web-based retail outlets, Computers 4Sure.com and Solutions4Sure.com.
The new subsidiary of Office Depot operates two distinct but
complementary Websites from its headquarters and call centers in
Connecticut. Terms of the acquisition were not disclosed.
Computers4Sure is an on-line technology superstore featuring more than
60,000 name brand technology products including PC hardware, software,
networking, and supplies focused on the SOHO and consumer markets. They
provide technical customer service and support to more tech savy
buyers. Solutions4Sure.com is dedicated to the needs of small and
medium-sized businesses for technology products and services.
4Sure.com, Inc. was founded in late 1998 by its President, Bruce
Martin, and by Linwood A. ("Chip") Lacy, Jr. Martin formerly served as
head of Merchandising at Ingram Micro, Inc. and President and COO of
Multiple Zones International. Lacy formerly served as Chairman and CEO
of Ingram Micro, Inc.
Bruce Nelson, Office Depot's CEO, stated: "Technology products and
solutions are the most frequently requested items by our on-line
customers. Today, we offer only a very limited assortment and this
acquisition will give us a recognized brand and Websites, a well
established customer base, and a "virtual" inventory of more than
60,000 products that will be drop shipped directly to customers. We
also
acquire a highly skilled and experienced management team that will
strategically position Office Depot to reach tech savvy buyers -- IT
Department Managers, and younger tech literate buyers who prefer to buy
on-line instead of in retail stores."
Monica Luechtefeld, Executive Vice President of Electronic Commerce for
Office Depot, added, "We expect the transition of ownership to be
seamless for the many loyal customers of Computers4Sure.com and
Solutions4Sure.com, while at the same time providing those customers
instant access to Office Depot's many other business solutions and
products through our award-winning Office Depot Websites.
4Sure's Bruce Martin, who will remain as President of 4Sure after
closing on the transaction, stated: "We are delighted to be joining the
Office Depot family. Our company shares a complementary vision with the
management of Office Depot, and the synergies are tremendous. The
support we will receive as a subsidiary will assist us in accomplishing
our aggressive growth plans in a more efficient and rapid manner."
Nelson concluded, "We are fully committed to be the industry leader in
providing knowledge, solutions and products through multi-channnel
selling to our core business customer base. This acquisition
strategically postions Office Depot to grow in an on-line
customer/product segment we have not successfully reached . As we have
previously stated, in addition to organic growth we will look for
acquisition opportunities that are complementary and synergistic to our
existing businesses. This acquisition meets these criteria, and is
expected to be essentially earnings-neutral in 2001 and earnings
positive in 2002."
Office Depot's award-winning Websites are recognized as the industry
leaders in electronic retailing of office products to consumers and
businesses. The Company has previously announced that it anticipates
global E-commerce sales of approximately $1.5 billion for 2001 and
continued signficant growth for the future, and it remains on track to
achieve that goal.
In addition to its strong domestic Internet presence, Office Depot has
been successful in launching nine International Websites over the past
two years. Office Depot also recently announced plans to open a new
Internet site in Switzerland under the url: www.vikingdirekt.ch in
early 2002. This latest new Internet site will leverage the Company's
new Swiss infrastructure including merchandising, warehousing and
distribution.
About Office Depot
As of March 31, 2001 Office Depot operated 824 office supply
superstores in the United States and Canada, in addition to a national
business-to-business delivery network supported by 25 delivery centers,
more than 60 local sales offices and eight regional call centers.
Furthermore, the Company had operations in 16 countries outside of the
United States and Canada, including 28 office supply stores in France,
and seven in Japan that are owned and operated by the Company; and 97
additional office supply stores under joint venture and licensing
agreements operating under the Office Depot(R) name in five foreign
countries.
The Company also operates an award-winning U.S. Office Depot(R) brand
Website at www.officedepot.com where customers can access Office
Depot's low competitive prices seven days a week, twenty-four hours a
day, and it operates www.officedepot.co.jp in Japan and
www.officedepot.fr in France as well as Viking(R) brand Websites at
www.vikingop.com in the United States, www.viking-direct.co.uk in the
United Kingdom, www.viking.de in Germany, www.vikingdirect.nl in The
Netherlands, www.vikingop.it in Italy, www.vikingop.com.au in
Australia, www.vikingop.co.jp in Japan and www.vikingdirect.fr in
France. Office Depot's common stock is traded on the New York Stock
Exchange under the symbol ODP and is included in the S&P 500 Index.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS: Except for
historical information, the matters discussed in this press release are
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995, as amended. Forward-looking statements,
including without limitation all of the projections and anticipated
levels of future performance, involve risks and uncertainties which may
cause actual results to differ materially from those discussed herein.
These risks and uncertainties are detailed from time to time by Office
Depot in its filings with the United States Securities and Exchange
Commission ("SEC"), including without limitation its most recent filing
on Form 10-K, filed on March 27, 2001. You are strongly urged to review
all such filings for a more detailed discussion of such risks and
uncertainties. The Company's SEC filings are readily obtainable at no
charge at www.sec.gov, www.10kwizard.com and at www.freeEDGAR.com, as
well as on a number of other commercial Web sites