Is Staples Private Equity Owned?

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🔴 PRIVATE EQUITY OWNED

Staples

Includes Staples Office Supply

office supplies · Framingham, MA

PE FirmSycamore Partners →

Year Acquired

2017

“Sycamore bought it for $6.9B, paid itself a $1 billion dividend, then closed a third of the stores.”

The PE Playbook

•Sycamore Partners paid itself a $1B dividend in 2019 — recouping ~80% of initial equity while pushing total debt past $5.3B
•Closed over 100 stores and laid off 7,000+ workers after the 2017 acquisition
•Racked up eight wage-and-hour and health-and-safety violations under PE ownership
•Shifted strategy away from retail consumers toward B2B, abandoning the customers who built the brand

Since the Acquisition

▸Over 100 stores closed — small businesses and home offices that depended on a nearby Staples for same-day supplies lost their closest option
▸In-store product selection gutted as Sycamore pivoted to B2B; retail customers increasingly find bare shelves and limited inventory
▸Print and copy center staffing reduced to the point where wait times for basic services stretched to hours at many locations
▸Remaining stores feel like afterthoughts — understaffed, poorly stocked, and clearly deprioritized in favor of corporate accounts

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Frequently Asked Questions

Is Staples owned by private equity?

Yes. Staples is currently owned by Sycamore Partners, which acquired it in 2017. Sycamore bought it for $6.9B, paid itself a $1 billion dividend, then closed a third of the stores.

What happened to Staples after the acquisition?

Over 100 stores closed — small businesses and home offices that depended on a nearby Staples for same-day supplies lost their closest option In-store product selection gutted as Sycamore pivoted to B2B; retail customers increasingly find bare shelves and limited inventory

Who owns Staples?

Staples is owned by Sycamore Partners, which acquired it in 2017.