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OfficeMax, is an American office supplies retailer founded in 1988 and headquartered in the Chicago suburb of Naperville, Illinois.
On April 1, 1988, OfficeMax was founded in Cleveland, Ohio, by Bob Hurwitz and Michael Feuer. Hurwitz served as executive chairman and chief executive officer, and Feuer was the president and chief operating officer. On July 5, 1988, OfficeMax opened its first retail store in the Golden Gate Shopping Center in Mayfield Heights, Ohio; this location still remains open. Hurwitz left the company in 1993 and Feuer became the chairman and chief executive officer.
OfficeMax grew by acquisition with Office World first in November 1990, with Office World executive and Montgomery Ward becoming minority shareholders.
In 1990, Office Square stores were purchased from Kmart, in exchange for a 22% equity stake. In 1991, Kmart increased its stake in OfficeMax to 92%. In January 1992, OfficeMax acquired five sites from Highland Superstores in Boston. OW Office Warehouse, a Virginia-based regional chain, was acquired in June 30, 1992. The company then acquired BizMart, its largest acquisition (104 stores) to date, in 1993 from Intelligent Electronics.
It was announced February 20, 2013, that OfficeMax and OfficeMax will combine in an all-stock deal, creating the largest U.S. office-supplies chain.
Source: www.wikipedia.org
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