Staples exits Australasia

Staples has announced that it plans to sell its Australian and New Zealand business to Platinum Equity for an undisclosed amount.

“As we execute our plan for long-term growth we want to focus primarily on our Staples’ North American business, and this will allow us to better do that,” says Shira Goodman, Staples chief executive, in a statement.
Shares of Staples rose 0.8% to $8.64 after hours.

By Wallace Witkowski for www.marketwatch.com