Staples Buys HiTouch Business Services
Staples has acquired HiTouch Business Services, one of the largest independent office product dealers in the U.S. Terms of the deal were not disclosed.
HiTouch is a 15-year-old company comprising three operating divisions that sell office products, workspace design services and IT solutions, according to Digital Commerce 360. HiTouch will become a part of Staples' busines-to-business division, Business Advantage. HiTouch's marketplace website will continue to serve as an independent platform run by its management team, and will help Staples grow into alternative distribution channels, according to a media release from Staples.
“We think Staples can bring tremendous value to HiTouch Business Services in the form of more robust capabilities and the scale that comes with being the industry leader for workplace solutions,” said Sandy Douglas, Staples's chief executive officer, in the release. “The combination of HiTouch’s sales organization and the strength of Staples will allow us to give customers an even higher level of service. We will continue to look for strategic opportunities like this one where we feel we can help create better options for businesses in the marketplace.”
Since acquiring Staples in 2017, private equity firm Sycamore Partners has split Staples' business-to-business and retail operations. The latest move to acquire HiTouch is in line with the firm's focus on business customers.