AURELIUS signs agreement to sell remaining Office Depot Europe business to strategic buyer RAJA Group

Munich (Germany) / Paris (France), August 16, 2021 - AURELIUS Equity Opportunities (ISIN: DE000A0JK2A8) today announces that one of its subsidiaries has signed an agreement to sell Office Depot Europe, which includes the remaining Viking and Office Depot Europe activities to strategic buyer RAJA Group, (Roissy, France). RAJA Group is Europe's leading distributor of packaging, supplies and equipment for businesses, and a major player in the office supplies and furniture market. Having sold its activities in Southern, Eastern and Northern Europe over the last three years, the sale of the remaining activities in North-Western Europe completes the disposal of Office Depot Europe. The transaction is subject to approval by the relevant competition authorities and is expected to close in the fourth quarter of 2021. Financial details were not disclosed.

With its commercial brands Viking and Office Depot, the business now disposed operates in several European markets including DACH, Benelux, the UK and Ireland and serves customers from small start-ups to large scale businesses. It has long standing experience and expertise in the office supplies sector and offers an integrated, omni-channel platform and dedicated professionals across its main segments and brands.

Office Depot Europe was acquired by AURELIUS in 2017 as a carve-out from US-based Office Depot, Inc. Since then, AURELIUS made extensive investments in the company's e-commerce activities which resulted in a strategic realignment of Office Depot Europe focussing on Viking as a strong e-commerce player generating almost 90% of revenues online. Over the past three years, significant parts of the business have been sold to strategic buyers securing their sustainable future and development under new ownership. Todays disposal to RAJA Group completes this disposal process.

"It is great to complete the exit of Office Depot Europe after successful realignment and transformation. This transaction offers RAJA Group as a long-term strategic buyer great potential and a base to further accelerate and develop their business," says Fritz Seemann, Executive Director of AURELIUS Equity Opportunities.

"This acquisition represents a tremendous strategic opportunity to strengthen our position in Europe, in particular in those countries where we are already present with RAJA subsidiaries. It will further expand the Group's presence and give new impetus to our ambition in the office supplies market. This acquisition is perfectly aligned with our strategic vision of becoming a global partner of European companies from start-ups to major multinationals, and will reinforce our partnership with globally known brands," says Danièle Kapel-Marcovici, RAJA Group CEO.

Raffael Reinhold, CEO of Office Depot Europe: "We are delighted about this opportunity with RAJA and we are looking forward to be a part of the RAJA Group. The strategic realignment to our business made us attractive for this strategic buyer and provides a great position to further drive our business together. We would like to thank AURELIUS for the good and successful cooperation and support during this fundamental transformation over the past years."

AURELIUS has been advised by PwC (M&A), Deloitte (Financial Due Diligence) and Jones Day (Legal).
 

ABOUT AURELIUS
AURELIUS Group is a pan-European investment group with offices in Munich, London, Stockholm, Madrid, Amsterdam and Luxembourg. Since its foundation in 2006, AURELIUS has grown from a local turnaround investor to an international multi-asset manager. Key investment platforms are its AURELIUS European Opportunities IV fund as well as listed AURELIUS Equity Opportunities SE & Co. KGaA ("AEO"; ISIN: DE000A0JK2A8), which acquire corporate carve-outs and companies with development potential in the mid-market (fund) and lower mid-market sector (AEO). The investment strategy's core element is operational support of its portfolio companies with a team of about 100 in-house operating taskforce experts.
AURELIUS Group also operates in the areas of growth capital, real estate opportunities and debt. AURELIUS Growth Investments invests in leveraged buyouts usually in succession situations. AURELIUS Real Estate Opportunities focuses on real estate investments, the value of which can be increased in the long-term by means of active management. AURELIUS Finance Company is an alternative direct lender, focused on providing flexible debt solutions to small and mid-market firms across Europe.
With its group charity AURELIUS Refugee Initiative e.V., AURELIUS provides comprehensive support for refugees on their way towards a better life.

To find out more, visit www.aurelius-group.com.

About Office Depot Europe
Office Depot Europe helps create great workspaces for everyone, everywhere as a leading expert in workplace solutions.
We operate in multiple countries and work closely with some of the world's biggest brands to the smallest start-ups, and everything in between. We have decades of experience and expertise and offer an integrated, omni-channel platform and dedicated professionals across our main channels and brands: Office Depot and Viking.
We work hard so our customers can focus on growing their businesses while being more productive, efficient, sustainable and cost-effective. We provide them with expertise in workplace supplies, technology, writing & machines, facilities, furniture & presentation, paper, labels & envelopes, filing & solutions and general office supplies & mailing. Crucially we work as a trusted partner with our customers to add value to their business, often as a single source for everything our customers need.
Office Depot Europe is a trademark of AURELIUS Group, a pan-European investment group. For more information, please visit www.officedepot.eu.

About RAJA Group
RAJA Group is the European leader in the multi-channel distribution of supplies and equipment for businesses. With 24 companies operating in 18 countries, RAJA offers the largest selection of packaging supplies in Europe as well as a complete range of handling, storage and industrial equipment, office supplies and furniture, janitorial and sanitary supplies, safety and security products, as well as retail equipment. The Group companies serve one million customers, from small start-ups to large multinationals, across all sectors of activity: distribution, industry, e-commerce, services, and public sector. A French, independent and family-owned company founded in 1954, RAJA prides itself on the high quality of its products, the expertise and proximity defining its services, and on the relationship of trust with its customers. Headquartered in Roissy near Paris, France, RAJA Group employs 3,000 people, and aims to achieve a turnover of 1 billion 120 million euros in 2021.

CONTACT
AURELIUS Group
Anke Banaschewski
Investor Relations & Corporate Communications
Phone: +49 (89) 544799 - 0
Fax: +49 (89) 544799 - 55
E-Mail: investor@aureliusinvest.de