ODP Business Solutions Announces New Landmark Partnership to Deliver Solutions to CoreTrust Members

Rhea-AI Summary

ODP Business Solutions, a division of The ODP (NASDAQ: ODP), has announced a Private Sector purchasing contract with CoreTrust, a leading group purchasing organization. The partnership will serve CoreTrust's 3,500+ business member purchasing collective across major industries including retail, manufacturing, hospitality and finance.

Through this agreement, ODP Business Solutions will provide CoreTrust members with solutions in interiors/furniture, technology, breakroom supplies, and print, promotion and apparel services. These categories are projected to grow at a 4-6% CAGR over the next five years. CoreTrust, which manages over $7 billion in annual aggregated spend, helps its members achieve an average 20% savings on indirect spend.

This partnership represents a significant growth milestone for ODP Business Solutions, following recent expansions in the hospitality sector.

Positive

• New partnership grants access to 3,500+ Fortune 1000 business customers
• Target markets expected to grow 4-6% CAGR over next 5 years
• Access to CoreTrust's $7 billion annual aggregated spend
• Expansion into new fast-growing industries

Negative

• None.

Insights

Financial Analyst

ODP's partnership with CoreTrust represents a strategic expansion of its B2B distribution channels, giving it access to a substantial new customer base of 3,500+ business members across major industries. With CoreTrust handling $7 billion in annual aggregated spend, this creates a significant addressable market opportunity for ODP, particularly meaningful given the company's relatively modest market cap of $443 million.

The partnership strategically positions ODP in product categories projected to grow at 4-6% CAGR over the next five years, aligning with their focus on high-growth segments. This follows a pattern of B2B expansion for ODP, including recent growth in the hospitality sector, suggesting consistent execution of their enterprise customer acquisition strategy.

While the actual revenue impact depends on what percentage of CoreTrust members choose ODP solutions, becoming a preferred supplier to a major group purchasing organization serving Fortune 1000 companies enhances their competitive positioning. The CoreTrust business model typically involves leveraging collective purchasing power (members save an average of 20% on indirect spend), which could drive higher volumes for ODP while potentially creating some margin considerations.

For investors, this represents a meaningful expansion of ODP's enterprise customer reach and demonstrates the company's ability to secure partnerships with significant B2B purchasing collectives, potentially leading to more stable and predictable revenue streams from large corporate clients.

New corporate services contract signals continued momentum for ODP Business Solutions in expanding relationships and serving new partners

BOCA RATON, Fla.--(BUSINESS WIRE)-- ODP Business Solutions, a leading supplier of workplace solutions and services, and a division of The ODP Corporation (NASDAQ: ODP), today announced a Private Sector purchasing contract with CoreTrust. Through this partnership, ODP Business Solutions will offer products and services to CoreTrust’s 3,500+ business member purchasing collective serving major industries including retail, manufacturing, hospitality and finance. This agreement marks the latest in a series of new contracts for ODP Business Solutions, demonstrating the company's growth into new, fast-growing industries.

This new corporate services contract allows ODP Business Solutions to supply CoreTrust members with high-quality solutions, including interiors/furniture, technology, breakroom supplies, and print, promotion and apparel services at an exceptional value. These categories are expected to expand by a 4-6% compound annual growth rate (CAGR) over the next five years industry-wide, reflecting ODP Business Solutions’ continuing focus on areas where there is substantial growth opportunity.

“CoreTrust has tremendous reach and is known as one of the top aggregators for Fortune 1000 companies, so we are honored to leverage our portfolio of products and solutions, and our global supply chain, as a trusted new CoreTrust supplier,” said David Centrella, executive vice president of The ODP Corporation and president of ODP Business Solutions.

CoreTrust is a market-leading group purchasing organization (GPO) that is trusted by thousands of businesses to leverage its collective purchasing power to secure competitive supplier pricing and more favorable contract terms. With more than $7 billion in annual aggregated spend, CoreTrust members save an average of 20% on indirect spend – far surpassing what they can typically achieve independently.

"We are excited to welcome ODP Business Solutions to CoreTrust’s portfolio of premier suppliers," said Mahesh Shah, CEO of CoreTrust. "CoreTrust will always strive to help procurement professionals achieve greater savings for their businesses. This partnership strengthens our commitment to being the ‘go-to’ solution for indirect spend needs.”

This contract with CoreTrust represents another growth milestone for ODP Business Solutions, following recent expansions within the hospitality sector with both customers and vendors. These achievements align with the company’s strategic goals of delivering a diverse range of innovative solutions to meet the evolving needs of customers across multiple industries. Similarly, CoreTrust offers its members competitive pricing on a wide array of indirect spend categories, serving a broad spectrum of sectors and categories.

“This partnership is a natural fit and is mutually beneficial for both ODP Business Solutions and CoreTrust. Our operations work very similarly in that we both have a growth mindset to provide our customers and members value not only in the prices and solutions we offer, but by elevating the overall buying experience,” said Nisha Brown, vice president of marketing and product management at ODP Business Solutions.

To learn more about ODP Business Solutions, visit www.odpbusiness.com.

About ODP Business Solutions:

ODP Business Solutions is a trusted partner with more than 30 years of experience working with businesses to adapt to the ever-changing world of work. From technology transformation, sustainability, innovative workspace design, cleaning and breakroom, and everything in between, ODP Business Solutions has the integrated products and services businesses need. Powered by a collaborative team of experienced business consultants, world-class logistics, and trusted brand names, ODP Business Solutions advances how the working world gets work done. For more information on ODP Business Solutions, visit www.odpbusiness.com.

ODP Business Solutions is a division of The ODP Corporation (NASDAQ: ODP). ODP and ODP Business Solutions are trademarks of ODP Business Solutions, LLC. Any other product or company names mentioned herein are the trademarks of their respective owner

About CoreTrust

Since 2006, CoreTrust has been a trusted group purchasing organization (GPO), helping businesses save on indirect spend, private equity firms improve portfolio performance, and suppliers drive growth. With $7 billion in annual purchasing power and a network of 3,500+ members, CoreTrust offers access to 125+ pre-negotiated contracts with top suppliers. Key categories include corporate services, facilities, HR, technology, travel, and supply chain and logistics, delivering efficiency and value to members.

Members enjoy market-leading pricing and exclusive access to the CoreTrust Experience Platform (CXP), a digital marketplace with curated contracts and actionable insights for smarter procurement. Membership is free, offering unmatched savings and simplified solutions for managing indirect spend. Learn more at www.coretrustpg.com.

About The ODP Corporation

The ODP Corporation (NASDAQ:ODP) is a leading provider of products and services through an integrated business-to-business (B2B) distribution platform and omnichannel presence, which includes world-class supply chain and distribution operations, dedicated sales professionals, online presence and a network of Office Depot and OfficeMax retail stores. Through its operating companies Office Depot, LLC; ODP Business Solutions, LLC; and Veyer, LLC, The ODP Corporation empowers every business, professional, and consumer to achieve more every day. For more information, visit theodpcorp.com.

ODP and ODP Business Solutions are trademarks of ODP Business Solutions, LLC. Office Depot is a trademark of The Office Club, LLC. OfficeMax is a trademark of OMX, Inc. Veyer is a trademark of Veyer, LLC. ©2025 Office Depot, LLC. All rights reserved. Any other product or company names mentioned herein are the trademarks of their respective owners.

FORWARD LOOKING STATEMENTS – THE ODP CORPORATION

This communication may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements or disclosures may discuss goals, intentions and expectations as to future trends, plans, events, results of operations, cash flow or financial condition, or state other information relating to, among other things, The ODP Corporation (“the Company”), based on current beliefs and assumptions made by, and information currently available to, management. Forward-looking statements generally will be accompanied by words such as “anticipate,” “believe,” “plan,” “could,” “estimate,” “expect,” “forecast,” “guidance,” “expectations”, “outlook,” “intend,” “may,” “possible,” “potential,” “predict,” “project,” “propose” “aim” or other similar words, phrases or expressions, or other variations of such words. These forward-looking statements are subject to various risks and uncertainties, many of which are outside of the Company’s control. There can be no assurances that the Company will realize these expectations or that these beliefs will prove correct, and therefore investors and stakeholders should not place undue reliance on such statements.

Investors and shareholders should carefully consider the foregoing factors and the other risks and uncertainties described in the Company’s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K filed with the U.S. Securities and Exchange Commission. The Company does not assume any obligation to update or revise any forward-looking statements.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250306514240/en/

Press Contact:

Katee Schalau

6600 North Military Trail

Boca Raton, FL 33496

mediarelations@odpbusiness.com

Source: ODP Business Solutions

FAQ

What is the expected growth rate for ODP's new service categories with CoreTrust?

The categories (interiors/furniture, technology, breakroom supplies, and print services) are expected to grow by 4-6% CAGR over the next five years.

How many business members will ODP serve through the CoreTrust partnership?

ODP Business Solutions will serve CoreTrust's 3,500+ business member purchasing collective across retail, manufacturing, hospitality and finance sectors.

What is the average cost savings CoreTrust members achieve through their purchasing collective?

CoreTrust members save an average of 20% on indirect spend through the collective's aggregated purchasing power of $7 billion annually.

Which product categories will ODP Business Solutions provide to CoreTrust members?

ODP will provide interiors/furniture, technology, breakroom supplies, and print, promotion and apparel services.