Office supply giant Office Depot is rumored to be in talks to sell off its Mexican division to create more value for shareholders. Office Depot currently has over 200 stores throughout Mexico. The company’s Mexico division is highly profitable, whereas the US operation has been struggling with razor thin margins and falling sales for years.
Office Depot in Mexico is currently in a joint venture with Mexican retailer Gigante (entered into in 1994), and it looks like Gigante could take over Office Depot’s stake to have complete ownership. The Office Depot shares are valued at somewhere between $700 – $900 Million USD.