Simpson Thacher is advising The ODP Corporation (the “Company”) on its announced plan to spin off its Business-to-Business (B2B) solutions provider into an independent, publicly traded company. The transaction is expected to be completed during the first half of 2022, subject to customary conditions, including final approval by the Company’s Board of Directors.
The ODP Corporation (NASDAQ: ODP) is a leading provider of business services and supplies, products and digital workplace technology solutions to small, medium and enterprise businesses, through an integrated business-to-business (B2B) distribution platform, which includes world-class supply chain and distribution operations, dedicated sales professionals and technicians, an online presence, and approximately 1,100 Office Depot and OfficeMax retail locations.
The Simpson Thacher team includes Alan Klein, Jakob Rendtorff, Jun Won Kim, Austin Uhm and Robert Harrison (M&A); Russell Light, Benjamin Rippeon and Tyler Robbins (Tax); Jamin Koslowe (ECEB); and Karen Kelley and Charles Mathes (Public Company Advisory Practice).