Business Services Industry
Boise Cascade to Buy Office Max for $1.2 Billion.
Knight Ridder/Tribune Business News, July, 2003
By Rachel Osterman, Chicago Tribune Knight Ridder/Tribune Business News
Jul. 15--Seeking to lessen its dependence on paper making, Boise Cascade Corp. agreed Monday to ac...uire office supply superstore Office Max Inc. for $1.2 billion in stock and cash.
The move bolsters Boise's presence in office supply distribution, but at the same time pits the Idaho-based company against industry giants Staples and Office Depot which last year both had revenues of more than $11 billion.
Some analysts ...uestion whether Office Max, which brought in $4.77 billion in revenue last year, will be able to meet the stiff competition. It must win over sales from fellow office supply superstores, while at the same time thwarting inroads from mass...
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