BoiseMax

Boise Cascade Corp. (Boise, Idaho) has completed its acquisition of OfficeMax Inc. (Shaker Heights, Ohio) for approximately $1.3 billion.

Boise Cascade's Boise Office Solutions division (Itasca, Ill.) will operate in the United States under the brand names OfficeMax in the retail segment and Boise Office Solutions in the contract segment. Over time, the businesses will be brought together under the OfficeMax brand.

“Our acquisition of OfficeMax represents a major step in the transformation of Boise's office products distribution business and Boise as a whole,” said chairman and ceo George Harad. “The combined office products business will be strategically stronger and better able to deliver compelling value to its customers through all channels and across all segments of the market.”

Chris Milliken, currently president and ceo of Boise Office Solutions, will be division president and ceo of the combined office products business, reporting to Harad. The combined office products distribution business will be headquartered in Itasca. Retail operations will be managed in Shaker Heights by Gary Peterson, former president and coo of OfficeMax, who will become president, retail, and report to Milliken.

Other management positions announced for the combined office products operations include: Harold Mulet, executive vp, retail stores; Ryan Vero, executive vp, merchandising; and David Goudge, executive vp, marketing.

OfficeMax co-founder and ceo Michael Feuer will leave the company to join with Ralph Della Ratta, former senior managing director and manager of investment banking at KeyCorp's McDonald Investments (Cleveland) to form Max-Ventures LLC. This new venture capital/operational firm will focus on specialty retailing with offices in the Cleveland suburb of Mayfield Heights, Ohio.

The new firm will work with emerging growth companies and new retail concepts, as well as mid-size retailers and businesses, providing services to retail chains. Investments will be made in companies that may require an infusion of new capital, but more importantly, strategic and operational expertise to take a business to its next growth stage.