Updated:
The ODP Corporation
The ODP Corporation was established in 1986 as the holding structure for what became one of the most recognized names in North American office supply...
The ODP Corporation
The ODP Corporation was established in 1986 as the holding structure for what became one of the most recognized names in North American office supply retail. Originally built from the merger of Office Depot and OfficeMax, the firm now operates through distinct business units including ODP Business Solutions, Veyer, and Varis. CEO Gerry Smith, appointed in 2017, leads the organization with a mandate to transition away from pure retail and into higher-margin enterprise services and procurement technology. The company's investment activity is channeled through its subsidiary Varis, a digital procurement platform offering technology-enabled supply chain and purchasing services to businesses. Its core operational footprint spans the United States, with supply chain and distribution infrastructure serving North American clients. The group's strategy targets enterprise workplace solutions, managed print services, and B2B digital commerce — asset classes that move well beyond the big-box retail model established decades earlier. Confirmed portfolio assets include the Office Depot retail brand, the CompuCom technology services business, and the Grand & Toy Canadian office supplies entity. The ODP Corporation employed approximately 20,000 associates as of its most recent public filings and maintains its headquarters in Boca Raton, Florida. The company's operational scale runs through its distribution network under the Veyer logistics arm, which services third-party clients alongside ODP's own business units. In January 2024, the firm announced a restructuring of its CompuCom division, emphasizing higher-margin IT managed services and away from break-fix hardware support (per CRN, January 2024). ODP's subsidiary Varis operates as a standalone procurement technology venture, backed by the parent corporation's balance sheet. Structurally, ODP Corporation functions differently from a conventional retailer: it is a holding company managing a portfolio of operating businesses, each with separate market-facing brands and P&L independence. This architecture allows the group to incubate technology-forward ventures like Varis while continuing to harvest cash from legacy retail operations. The separation of Varis as a procurement platform targeting third-party enterprise clients marks a genuine shift toward a software-enabled services model — distinct from the real-estate-heavy strategy of traditional office supply chains.
General information
Firm type
Asset Manager
Year founded
1986
AUM
Undisclosed
Location
Region
North America
Country
United States
City
Boca Raton
Corporate office
Boca Raton, FL, United States
Principals
Gerry Smith
Chief Executive Officer
Sector focus
Frequently asked questions
Who runs investment decisions at The ODP Corporation?
CEO Gerry Smith leads strategic and capital allocation decisions for The ODP Corporation. Smith was appointed in 2017 after serving as Chief Operating Officer at Lenovo. The company's board of directors, which includes representatives from major shareholders, oversees significant investment commitments. Strategic direction for subsidiaries such as Varis is set in coordination with the parent company's executive leadership team.
How is The ODP Corporation structured as an operating entity?
The ODP Corporation operates as a holding company with distinct business units, not a single-family office or traditional investment fund. Its primary subsidiaries include ODP Business Solutions (B2B workplace products and services), Veyer (logistics and supply chain for third-party clients), Varis (digital procurement platform), and the Office Depot retail brand. This architecture allows each unit to operate with independent P&L accountability while drawing on shared infrastructure.
Does The ODP Corporation make external venture investments or fund commitments?
The ODP Corporation is not structured as a venture capital firm or fund-of-funds. Its investment activity occurs through wholly owned subsidiaries like Varis, which incubates procurement technology. The parent company does not publicly report activities resembling traditional fund commitments or external co-investment programs. Its focus remains internal corporate venture building and operational restructuring of existing business units.
What is the relationship between The ODP Corporation and Office Depot?
Office Depot is a wholly owned retail subsidiary of The ODP Corporation. The parent holding company was formed through the 2013 merger of Office Depot and OfficeMax. Today, The ODP Corporation manages the Office Depot brand alongside its other business units, though the retail segment has been systematically reduced in size as the company shifts toward B2B services and digital procurement under the Varis and ODP Business Solutions banners.
What happened to OfficeMax after the merger with Office Depot?
OfficeMax was merged into Office Depot in 2013, with the combined entity adopting The ODP Corporation name for the holding company. The OfficeMax brand has largely been retired from the retail landscape, though legacy OfficeMax contracts and customer relationships were absorbed into ODP's broader enterprise services division. The physical OfficeMax stores that survived initially were gradually converted to Office Depot or closed.
Does The ODP Corporation maintain philanthropic or foundation structures?
The ODP Corporation's philanthropic activities are channeled through the Office Depot Foundation, a separately registered nonprofit. The foundation focuses on education, disaster relief, and community development. Its operations are distinct from the parent company's commercial ventures, though the foundation's branding draws on the Office Depot name rather than The ODP Corporation.
What is Varis, and how does it fit into The ODP Corporation's strategy?
Varis is The ODP Corporation's standalone digital procurement subsidiary, launched to offer technology-enabled purchasing and supply chain services to enterprise clients beyond the legacy Office Depot customer base. It represents the most significant strategic pivot under CEO Gerry Smith — moving the parent company from product distribution into software-enabled procurement. Varis operates with its own leadership team and marketplace technology platform.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
Need institutional-grade insight on family offices?
Altss delivers:
Prefer a guided tour?
We’ll walk you through: