The ODP Corporation (ODP) entered a merger agreement on September 22, 2025, to be acquired by Atlas Holdings for $1 billion.
ODP will be acquired by an affiliate of Atlas Holdings for $28 per share in cash, representing a premium of 34.49% from the stock’s last close.
ODP is a provider of business services, supplies, and workplace technology solutions, operating through its B2B distribution platform and Office Depot and OfficeMax retail stores to serve small, medium, and enterprise customers across North America.
Atlas Holdings is a private equity firm based in Greenwich, Connecticut, that acquires and operates manufacturing and distribution businesses worldwide across various sectors, including metals, packaging, industrial services, and food processing. The firm maintains a portfolio of 25 to 30 companies, managing over $16 billion in capital.
The deal is expected to be completed by the end of 2025.
J.P. Morgan Securities advised The ODP Corporation on the financial side of the deal, while Simpson Thacher & Bartlett provided legal counsel. Atlas Holdings received financial advice from Lazard and legal support from Willkie Farr & Gallagher.
Atlas Holdings’ acquisition of The ODP Corporation represents a payment of 5.44 times EBITDA.
For a more detailed insight into this merger and acquisition (M&A) transaction, please visit the Deal Metrics page here:
Deal Metrics for the acquisition of The ODP Corporation (ODP) by Atlas Holdings
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Editor’s Note: Baranjot Kaur contributed to this article