John Lederer, the former President and Chief Executive Officer of US Foods, has joined Sycamore Partners as a Senior Advisor. Mr. Lederer will also serve as the Executive Chairman of Staples which Sycamore acquired on September 12, 2017.
“We are thrilled to have John join the Sycamore Partners team at this exciting time in the firm’s continued growth and development,” said Stefan Kaluzny, Managing Director of Sycamore Partners. “John has significant institutional knowledge of both distribution and retail businesses across the United States and Canada, which is particularly relevant given our recent acquisition of Staples. I am confident that John’s leadership experience and business acumen will be tremendously beneficial to create value and deliver exceptional products, services and expertise that enable businesses to work better.”
“I am honored to join Sycamore Partners as a Senior Advisor and Executive Chairman at Staples,” said Mr. Lederer. “Sycamore Partners has an outstanding reputation for driving profitable growth across its retail and consumer brands. I look forward to working closely with my new colleagues as we focus on building on the great legacy that has been created at Staples.”
Staples is a superstore retailer of office supplies, business technology products, facility and breakroom supplies, computers and mobility products, and office furniture under the Staples, Quill, and other company-ownedbrands. The company has more than 1,500 stores in 46 states and 10 provinces and 2 territories in Canada, as well as in Argentina, Australia, and Brazil; 78 distribution and fulfillment centers in 25 states and 7 provinces in Canada, as well as in China, Argentina, Brazil, Taiwan, and Australia. Staples has annual revenues of approximately $18 billion and is headquartered near Boston in Framingham, MA (www.staples.com).
Mr. Lederer was most recently with Oak Hill Capital, advising it on acquisitions in the retail and consumer goods sectors. He also served on the board of directors of several Oak Hill portfolio companies. From 2010 to 2015, Mr. Lederer was the Chief Executive Officer of US Foods, one of the largest food service distributors in the United States. Earlier, from 2008 to 2010, he was Chairman and Chief Executive Officer of Duane Reade, where he led a successful transformation of the pharmacy chain in just two years, culminating in its sale to Walgreens. Prior to Duane Reade, Mr. Lederer spent 30 years at Loblaw Companies, Canada’s largest retail food distributor, where he served in a variety of senior leadership positions including President from 2000 to 2006.
Sycamore Partners invests in consumer and retail companies. The firm’s investment portfolio currently includes Belk, Coldwater Creek, EMP Merchandising, Hot Topic, MGF Sourcing, NBG Home, Nine West Holdings, Staples, Talbots, The Limited and Torrid. Sycamore has more than $3.5 billion in capital under management and is based in New York (www.sycamorepartners.com).
© 2017 Private Equity Professional | September 21, 2017