Mail Boxes Etc. Sold For $276.9 Million

Fri., May 23, 1997

Compiled From Wire Services

U.S. Office Products Co., a supplier of business supplies and services, said Thursday it will acquire the mail service company Mail Boxes Etc. for $276.9 million in stock.

Under the deal, Mail Boxes Etc. will become a wholly-owned unit of Washington D.C.-based Office Products. Its headquarters will remain in San Diego.

U.S. Office Products provides office supplies, office furniture, packaging supplies, coffee services, computer network services, print and forms management, and travel services to small and home offices.

A one-stop shipping outlet, Mail Boxes Etc. was founded in San Diego in 1980. It offers packaging, shipping and even its own post office boxes to compete with the U.S. Postal Service.

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Mail Boxes Etc. Sold For $276.9 Million

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