A private equity company has bought the Office Depot chain of stores

The Central-Fund Venture Capital Fund purchased the Office Depot (OD) chain of stores, which intends to stabilize its 2012 annual turnover of 4.4 billion HUF this year – the company told MTI on Wednesday.

The Central Fund Venture Capital Fund sees fantasy in the Office Depot network’s operation, therefore bought the Hungarian company  from the U.S. parent company – said Szigeti Károly, the venture capital fund’s director.

OD’s revenue over the last three years decreased by nearly half to 8.4 billion HUF from 4.4 billion HUF and half of the 17 stores in Hungary were closed as well. (MTI)