22 January 2007 — Mumbai (IND): Staples Future Office, the OP giant’s joint venture (JV) with Pantaloon Retail, has made its first acquisition in India.
The JV has acquired the operations and management of Officedge, an online B2B office products firm that provides contract delivery services to corporate customers across India.
Pantaloon’s director, Rakesh Biyani, said: "This acquisition fits in with our strategy of being present with different business formats to capture increased spend levels by customers. We have, over the years, pioneered many concepts where we interact with end customers. Officedge is a unique organisation and gives us the necessary traction in a growing market."
The Indian OP industry is estimated to be worth $10 billion.