Staples is stumping up £32.5m to buy Office World, the UK arm of rival office goods retailer, Swiss-based Globus Group. That's not a lot of money - it gains 59 out-of-town stores, all based outside London.

The deal is subject to scrutiny on competition grounds from the Office of Fair Trading.

Theo Van Brandenburg, president, Staples European Retail, said the UK office product market offers big growth opportunities. "With this acquisition Staples gains Office World's talented associates and great retail locations increasing our ability to serve customers more conveniently and with lower costs." ®