Office Depot, officially operating under The ODP Corporation, is a specialty retail and business services company headquartered in Boca Raton, Florida, USA. It is best known for its office supplies, technology products, printing solutions, and workplace services offered through Office Depot and OfficeMax stores, as well as online.
Founded in 1986 by F. Patrick Sher, Stephen Dougherty, and Jack Kopkin, the company expanded rapidly and became a household name in the U.S. office supplies industry. Today, Office Depot operates about 830 retail stores across the United States and employs around 19,000 people.
As of September 2025, the company is led by Gerry Smith, who serves as Chairman and CEO. Under his leadership, ODP has been pivoting more toward business-to-business (B2B) services, while also continuing its retail presence.
Ownership Status of Office Depot
There is no longer a single private owner of Office Depot as it has historically been a publicly traded company. However, in September 2025, it was announced that Atlas Holdings, a private equity firm, would acquire The ODP Corporation (parent of Office Depot) in a deal valued at approximately $1 billion.
The transaction, priced at $28 per share in cash, represents a 34% premium over the company’s last trading price prior to the announcement. Once finalized, this acquisition will take Office Depot private, ending its public listing on the stock exchange.
Major Shareholders (Before Acquisition)
| Shareholder / Entity | Ownership Percentage | Notes |
|---|---|---|
| Atlas Holdings (Pending) | 100% (after close) | Will take the company private in a $1B deal announced Sept 2025. |
| Public Shareholders (various institutional & retail) | N/A | Prior to the deal, ODP was widely held by funds, institutions, and retail investors. |
Note: After the completion of the deal, Atlas Holdings will become the full owner of Office Depot.
Key Shareholder Highlights
- Atlas Holdings is set to become the sole owner of Office Depot, marking a significant change from its prior public ownership.
- Before the transaction, shares of ODP were distributed among mutual funds, institutional investors, and individual shareholders.
- The acquisition reflects Atlas Holdings’ strategy of acquiring companies in transition and applying operational expertise to stabilize and grow them.
Recent Developments in Ownership
Recent updates include:
- In September 2025, Atlas Holdings announced the acquisition of The ODP Corporation for $1 billion.
- The deal is expected to close by late 2025, subject to regulatory and shareholder approvals.
- Ahead of the acquisition, Office Depot has been downsizing: closing ~60 stores in the past year and reducing its workforce by about 1,000 jobs, leaving ~19,000 employees.
- The company’s revenues declined by about 8% over the latest six-month period, reflecting broader industry pressures.
FAQs
1. Who is the current owner of Office Depot?
As of now, Office Depot is in the process of being acquired by Atlas Holdings. Once the deal closes, Atlas Holdings will become the full owner.
2. Is Office Depot publicly traded or privately owned?
Office Depot was publicly traded under the ticker ODP, but it is being taken private by Atlas Holdings.
3. Who founded Office Depot?
Office Depot was founded in 1986 by F. Patrick Sher, Stephen Dougherty, and Jack Kopkin.
4. Has the ownership changed recently?
Yes. In September 2025, Atlas Holdings announced it would acquire Office Depot for about $1 billion, shifting the company from public to private ownership.
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