Staples to Buy French Mail-Order Business

Staples Inc., the No. 2 U.S. office supply chain, agreed to acquire the European mail-order business of French retailer Pinault-Printemps-Redoute for about $800 million to boost its presence in the fast-growing European market.

The deal gives Framingham, Mass.-based Staples an entry into the mail-order business in France, Italy, Spain and Belgium, and expands its foothold in Britain.

Shares of Staples fell 95 cents to $15.07 on Nasdaq.