Acquisition Expands Corporate Express's Position in the Ontario Market
MISSISSAUGA, Ontario, Aug. 2 /CNW/ -- Corporate Express Canada, Inc.,
part of the Dutch-based Corporate Express NV (NYSE: CXP), announced today the
signing of a share purchase agreement to acquire Davenport Office Inc.
(operating as Basics Office Products), an office supply and furniture
distributor in Ontario.
Corporate Express Canada is a leading business-to-business supplier of
office products, furniture, facility supplies and computer products and
services, printing and forms management and promotional merchandise and other
similar products. In North America, Corporate Express has 2006 sales of
approximately $4.9 (US) billion.
Davenport Office Inc. is an independently owned contract office supply
and furniture distributor in Canada, with annual sales of approximately
$71(Canadian) million. Davenport Office is also the largest dealer for Basics
Office Products Ltd., a national buying group in Canada.
The acquisition supports Corporate Express's strategic objective of
continued growth in Canada. Through this acquisition, Corporate Express Canada
will further improve its ability to serve customers in the Ontario market.
The acquisition is expected to close in the next 30 days.
The combination of Corporate Express and Davenport Office represents
significant benefits to customers, employees and the combined sales
"It was clear to us from the beginning that Davenport Office was a high
quality business, with a superior reputation in the marketplace," said Rick
Toppin, President of Corporate Express Canada, Inc. "We are very excited about
this acquisition and proud to welcome our new associates and customers to
Corporate Express Canada."
"We are extremely pleased to join the Corporate Express family," said Jim
Dillon, President of Davenport Office Inc. "Corporate Express is a great fit
culturally for Davenport Office, both for our customers and our associates."
"Making this integration seamless for both Davenport and Corporate
Express customers is our top priority," said Michael Zahra, President of
Corporate Express Canada's Ontario Division. "Both Corporate Express and
Davenport Office share a passion for service excellence, and I look forward to
bringing our two organizations together."
About Corporate Express Canada
Corporate Express Canada, Inc. is a wholly owned subsidiary of Corporate
Express NV, one of the world's largest business-to-business supplier of
office, facility and computer products and services. Corporate Express
Canada's product offering includes office and computer supplies, imaging and
computer graphics supplies, office furniture, document and print management,
desktop software, promotional products, facilities supplies and other similar
products. Corporate Express Canada has operations in 18 facilities, including
8 distribution centers located in Calgary, Alberta; Edmonton, Alberta;
Dartmouth, Nova Scotia; Boucherville, Quebec; St. John's, Newfoundland;
Vancouver, British Columbia; Winnipeg, Manitoba and Mississauga, Ontario.
Corporate Express Canada employs over 1,300 people, approximately 350 sales
and customer service representatives and owns over 70 delivery vehicles. The
Company's Web site address is http://www.CorporateExpress.ca.
About Corporate Express
Corporate Express provides customers with a single source of business
products and services, so that they can focus their resources, energy and time
on their core business. Corporate Express helps organizations to save time and
maximize their productivity.
Headquartered in the Netherlands, Corporate Express NV generated 2006
annual sales of EUR 6.3 billion. The Company has a widespread global
distribution network spanning North America, Europe and Australia, has close
to 19,000 employees, and operations in 20 countries. Corporate Express NV is
listed on Euronext Amsterdam (Euronext: CXP) and in New York (NYSE: CXP). For
more information, please visit http://www.CorporateExpress.com.
Safe Harbour Statement
Statements included in this press release, which are not historical facts
are forward-looking statements made pursuant to the safe harbour provisions of
the Private Securities Litigation Reform Act of 1995 and the Securities
Exchange Act of 1934. Such forward-looking statements are made based upon
management's expectations and beliefs concerning future events impacting
Corporate Express and therefore involve a number of uncertainties and risks,
including, but not limited to industry conditions, changes in product supply,
pricing and customer demand, competition, risks in integrating new businesses,
currency fluctuations, and the other risks described from time to time in the
Company's filings with the US Securities and Exchange Commission, including
the Company's Annual Report on Form 20-F filed with the Securities and
Exchange Commission on March 9, 2007. As a result, the actual results of
operations or financial conditions of the Company could differ materially from
those expressed or implied in such forward-looking statements.
Shareholders and other readers are cautioned not to place undue reliance
on these forward-looking statements, which speak only as of the date on which
they are made. The Company undertakes no obligation to update publicly or
revise any forward-looking statements.
For further information:
For further information: Van Hindes, Vice President Corporate
Communications, of Corporate Express Canada, Inc., +1-303-664-3989 Web Site: