Staples Canada Explained

Staples Canada ULC
Type:Private
Num Stores:299
Key People:Rachel Huckle
(CEO)
Evelyn Sutherland
(CFO)
Priscilla Luna
(CCO)
Brian McDougall
(CRO)
Andrew Go
(CDO)
Lance Martel
(CIO)
Products:Technology (Computers/Business Machines/Entertainment), Furniture, Office Supplies, Copy and Print Services, Tech Services, School Supplies, Legal Supplies, Facility Supplies, Wireless
Num Employees:15,000+
Owner:Sycamore Partners
Former Names:The Business Depot
(1991–1994)
Staples Business Depot
(1994–2008)
Founder:Jack Bingleman
Location:Richmond Hill, Ontario, Canada

Staples Canada ULC, operating as Staples (Bureau en Gros in Quebec),[1] is a Canadian retail sales company owned by Sycamore Partners.[2] Staples was founded by Leo Kahn[3] and Thomas G. Stemberg.[4] Since 2017, Staples Canada has operated independently from Staples' U.S. retail and U.S. business-to-business (B2B) operations.

History

The Business Depot Ltd. was founded by Jack Bingleman in 1991, with Staples as a substantial investor, opening Business Depot stores in Canada.[5] The American counterpart acquired the Canadian company in 1994.[6] The company later began converting locations in English-speaking markets to Staples.[7] In 2008, Staples acquired Corporate Express.[8] In 2017, Staples was acquired by private equity firm Sycamore Partners for $6.9 billion. Under the new owner, Staples Inc. was split into three "independently managed and capitalized" entities; Staples Canada serves as one of these entities, alongside Staples North American Delivery and Staples U.S. Retail.[9] [10] [11]

ServiceOntario

In 2024, some ServiceOntario locations will be closed and replaced with kiosks inside Staples Canada.[12] These stores will be compensated with taxpayer money for upgrades required to provide these services, at an estimated cost of 1.75 million dollars.[13] The Ontario New Democratic Party has criticized the Ford government for this decision.[14] A request was made to the Financial Accountability Office by the Liberal Party in regards to the deal.[15] These kiosks are a pilot project intended to reduce wait times and increase availability of services, with further partnerships with other businesses being investigated.[16] Two Walmart stores will also replace standalone ServiceOntario locations.[17] Ford has compared the situation to how some Canada Post offices operate inside Shopper's Drug Mart locations.[13]

Notes and References

  1. Web site: Delean . Paul . Bureau en Gros to shut two Montreal stores . Montreal Gazette . 16 January 2024.
  2. Web site: Sycamore Partners Completes Acquisition Of Staples, Inc. . Sycamore Partners . 16 January 2024.
  3. Web site: Shapiro . T. . Leo Kahn, entrepreneur who helped found Staples office-supply business, dies at 94 . The Washington Post . 16 January 2024.
  4. Web site: Thomas Stemberg dies at 66; Staples founder created ‘Toys R Us for office supplies’ . Los Angeles Times . Associated Press . 16 January 2024.
  5. Web site: Haddadin . Jim . Staples sees future 'beyond office supplies' . The Patriot Ledger . 16 January 2024.
  6. Web site: Staples Stock Gains on Completion of Aquisitions . The New York Times . 16 January 2024.
  7. Web site: Patterson . Craig . Landmark Mixed-Use Development in Toronto’s Rosedale Area to Feature Unique Retail Component . Retail Insider . 16 January 2024.
  8. Web site: Chee . Foo . Staples wins Corporate Express in $2.65 bln deal . Reuters . 16 January 2024.
  9. Web site: Break-up plan for Staples: B2B unit stands out. Paul. Demery. 2017-08-14. Digital Commerce 360. en-US. 2019-05-29.
  10. Web site: Staples spinning off retail business. Retail Dive. en-US. 2019-05-29.
  11. News: Staples to Sell for $6.9 Billion, and Its New Owner Has an Uphill Battle. Gelles. David. 2017-06-28. The New York Times. 2019-05-29. Merced. Michael J. de la. en-US. 0362-4331.
  12. Web site: Some ServiceOntario centres to close, province says new locations coming in select Staples stores . CBC News . 12 January 2024.
  13. Web site: Southern . Richard . Staples Canada lays off head office staff, company takes $1.75M of taxpayer money for ServiceOntario retrofit . CityNews Toronto . 1 February 2024.
  14. Web site: Southern . Richard . Marchesan . John . Ford government to pay for Staples retrofit as retailer looks to ‘monetize’ ServiceOntario . Toronto CityNews . 13 January 2024.
  15. Web site: Ferguson . Rob . Ford government facing renewed questions over ServiceOntario deals . Toronto Star . 1 February 2024.
  16. Web site: Jabakhanji . Sara . Minister defends plan to replace some ServiceOntario centres with Staples store kiosks . CBC News . 16 January 2024.
  17. Web site: Southern . Richard . Ford government to use taxpayer funds to retrofit 2 Walmart stores to also host ServiceOntario kiosks . CityNews Toronto . 15 January 2024.