Systemax agrees to buy 16 CompUSA stores
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DALLAS
Computer manufacturer and seller Systemax Inc. said Sunday it has agreed to take over as many as 16 CompUSA stores from the recently sold electronics retailer.
Systemax will also purchase the CompUSA brand, trademarks and e-commerce business from the struggling Dallas-based company, which was sold last year to restructuring firm Gordon Brothers Group LLC.
"We believe the value of the CompUSA brand remains very high," Systemax CEO Richard Leeds said. "The company has a long legacy of value pricing, service and customer loyalty among consumers nationwide."
Port Washington, N.Y.-based Systemax said it expects to spend about $30 million on the acquisition.
Systemax is buying up to 16 CompUSA stores in Florida, Texas and Puerto Rico. Leeds said the acquisition would complement New York-based Systemax's TigerDirect subsidiary, which operates 11 retail stores in Florida, Illinois, North Carolina and Canada.
Privately held CompUSA Inc. was sold after struggling for nearly a decade with falling prices on personal computers, its most important product, and competition from big-box retailers such as Best Buy Co.
CompUSA operated 103 stores when it was sold. The new owners planned to sell certain stores in key markets and close the rest.
