- Founded: May 1, 1986, in Brighton, Massachusetts
- 2024 Revenue: Approximately $8 billion
- Employees: Approximately 32,000
- Retail Stores: Over 900 locations in North America
- Ownership: Sycamore Partners (acquired 2017 for $6.9 billion)
Staples Inc. operates as an office supply retail company headquartered in Framingham, Massachusetts. The company pioneered the office superstore concept in 1986 and grew to become the largest office supply retailer in the United States.
The company sells office supplies, technology products, furniture, and breakroom supplies through retail stores, e-commerce platforms, and direct business-to-business delivery operations. Staples serves both individual consumers and businesses of all sizes across North America.
Staples Inc History
Staples Inc Co-founders
Staples Inc Competitors
Staples competes with office supply specialists, mass retailers, and e-commerce giants. The company holds approximately 47% market share in the U.S. office supply store sector, with ODP Corporation (Office Depot/OfficeMax) as its closest competitor.
| Company | Headquarters | Primary Business |
|---|---|---|
| Office Depot | Boca Raton, Florida | Office Supply Retail |
| OfficeMax | Boca Raton, Florida | Office Supply Retail |
| Amazon | Seattle, Washington | E-commerce |
| Walmart | Bentonville, Arkansas | Mass Retail |
| Quill (Staples subsidiary) | Lincolnshire, Illinois | B2B Office Supply |
| W.B. Mason | Brockton, Massachusetts | Office Supply Distribution |
| Costco | Issaquah, Washington | Warehouse Club |
| Target | Minneapolis, Minnesota | Discount Retail |
| Best Buy | Richfield, Minnesota | Electronics Retail |
| Essendant | Deerfield, Illinois | Wholesale Distribution |
Staples Inc Revenue
Staples generated approximately $8 billion in revenue for 2024. The company has seen sales decline from its peak of $24.7 billion in 2011 as consumers shifted to online shopping.
Staples Inc Acquisitions
Staples built its market position through strategic acquisitions spanning retail, catalog, and wholesale operations. The company focused on expanding both its geographic footprint and its delivery-based business channels.
In 1998, Staples acquired Quill Corporation for $685 million in cash and stock. Quill, founded in 1956 by the Miller brothers in Chicago, had become the largest direct-mail office supply company in the United States. The acquisition gave Staples access to a successful catalog business and growing internet sales channel. Quill continues to operate as a separate brand under Staples ownership.
Medical Arts Press joined the Staples family in 2002 for $383 million. Based in Minneapolis, the company specialized in printed office products and supplies for healthcare facilities. Medical Arts Press became a division of Quill Corporation.
That same year, Staples spent $788 million to acquire the European mail-order operations of Guilbert S.A. from Pinault-Printemps-Redoute. The purchase included brands operating in France, Belgium, Spain, the Netherlands, and Italy. These operations sold office supplies and furniture through catalogs and websites.
In 2008, Staples completed its largest acquisition by purchasing Corporate Express, a Dutch office supplies wholesaler, for approximately $4.8 billion. Corporate Express operated in the United States, Canada, Australia, and New Zealand. The deal made Staples the largest office products company in the world.
Additional acquisitions included Office World in the United Kingdom in 2004, PNI Digital Media in Canada in 2014, and various regional office supply chains throughout the 1990s and 2000s. Staples also acquired naming rights to the Staples Center arena in Los Angeles in 1998, though the venue was renamed Crypto.com Arena in 2021.
Staples Inc Marketcap
Staples no longer has a public market capitalization after Sycamore Partners took the company private in September 2017 for $6.9 billion. Before going private, Staples traded on the NASDAQ under the ticker symbol SPLS.
FAQs
Who founded Staples Inc?
Thomas G. Stemberg and Leo Kahn founded Staples Inc in November 1985. Myra Hart also contributed as a founding team member. The first store opened in Brighton, Massachusetts on May 1, 1986.
Who owns Staples Inc now?
Sycamore Partners, a private equity firm based in New York, owns Staples Inc. The firm acquired the company for $6.9 billion in September 2017, taking it private.
How many Staples stores are there?
Staples operates over 900 retail stores across North America. The company has closed hundreds of locations since 2014 as part of a strategy to focus more on e-commerce and B2B services.
Is Staples still in business?
Yes, Staples remains in business as a privately held company. It operates retail stores, e-commerce platforms, and business-to-business delivery services throughout the United States and Canada.
Why did Staples and Office Depot not merge?
The Federal Trade Commission blocked the proposed merger twice. In 1997 and again in 2016, regulators determined that combining the two largest office supply retailers would harm competition.
