Menu
Platinum Equity agrees to sell Winc NZ to advance office products merger

Platinum Equity agrees to sell Winc NZ to advance office products merger

Investor undertakes to sell Winc NZ, which also resells a range of ICT products.

Winc is now for sale.

Winc is now for sale.

Credit: Winc

Platinum Equity has agreed to sell office products and ICT supplier Winc New Zealand in order to push ahead with its planned acquisition of OfficeMax Holdings.

In November, competition regulator the Commerce Commission joined High Court injunction proceedings initiated by Complete Office Supplies to prevent the private equity firm from acquiring OfficeMax.

Platinum and OfficeMax had not applied for clearance and the Commission was concerned the acquisition would be likely to substantially lessen competition in the supply of stationery and office products to large corporate and government customers.

Winc, formerly known as Staples, also resells a range of ICT services including business intelligence software and cloud, database and security products.

Platinum has provided an undertaking to the Commission and the Court committing to divest Winc to a purchaser approved by the Commission once Platinum acquires OfficeMax. 

Proceedings will remain before the Court until Platinum has completed the divestment.

Australia's competition watchdog gave the go-ahead for Platinum's acquisition of both OfficeMax and Winc in February.


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags Platinum EquityOfficeMax. Commerce CommissionWinc NZ

Events

Featured

Slideshows

Channel kicks 2021 into gear as After Hours returns to Auckland

Channel kicks 2021 into gear as After Hours returns to Auckland

After Hours made a welcome return to the channel social calendar with a bumper crowd of partners, distributors and vendors descending on The Pantry at Park Hyatt in Auckland to kick-start 2021.

Channel kicks 2021 into gear as After Hours returns to Auckland
The Kiwi channel gathers for the 2020 Reseller News Women in ICT Awards

The Kiwi channel gathers for the 2020 Reseller News Women in ICT Awards

Hundreds of leaders from the New Zealand IT industry gathered at the Hilton in Auckland on 17 November to celebrate the finest female talent in the Kiwi channel and recognise the winners of the Reseller News Women in ICT Awards (WIICTA) 2020.

The Kiwi channel gathers for the 2020 Reseller News Women in ICT Awards
Show Comments