Office Depot To Acquire Chinese Office Products Firm

Office Depot said Sept. 28 that it has entered into a definitive agreement to acquire a controlling interest in AsiaEC, one of the largest dealers of office products and services in China.

AsiaEC is headquartered in Beijing and has offices in Shanghai, Guangzhou and Shenzhen, where it operates. AsiaEC's offerings include office supplies, technology, furniture, custom printing and promotional items and business services.

The acquisition gives Office Depot, Delray Beach, FL, a significant position in the fast-growing Chinese market. The move also allows the company to leverage its operations in Japan and South Korea to enhance its competitive position in the region, the company said in a statement.