For the next few years OfficeMax and its rivals, Staples and Office Depot, continued to open new stores, saturating the market segment. OfficeMax also filed lawsuits for infringement for use of the "Max" name against Med Max and Circuit City for CarMax, its used car business. BatteryMax were operated by Batteries for Everything. On July 14, 1996, a new kiosk program called BatteryMax was test launched in two Phoenix stores. Around this time Kmart sold the remaining 25% of the OfficeMax shares it held. In 1995, OfficeMax became one of a handful of companies doing business through internetMCI. In 1995, Kmart sold off 51% of OfficeMax shares, spinning off the company and became a NYSE-(OMX) publicly traded corporation, based in Shaker Heights, Ohio. In November 1994, FurnitureMax store within a store concept begins testing in the Cleveland market. Kmart's shareholders turn down the proposal at their June 3 annual meeting. In May 1994, Kmart put a plan in front of its stockholders to sell 20% to 30% of each of its specialty store subsidiaries shares on the open market to pay down debt and fund future expansion of the subsidiaries. OfficeMax acquired a 19% stake in Corporate Express, a contract stationer. On August 16, 1993, OfficeMax joined Kmart and most of the other Kmart-owned banners in the "largest power center" Kmart operated in Utica, Michigan. The company then acquired BizMart, its largest acquisition (104 stores) to date, in 1993 from Intelligent Electronics. OW Office Warehouse, a Virginia-based regional chain, was acquired on June 30, 1992. In January 1992, OfficeMax acquired five sites from Highland Superstores in Boston. In 1991, Kmart increased its stake in OfficeMax to 92%. In 1990, Office Square stores were purchased from Kmart, in exchange for a 22% equity stake. OfficeMax grew by acquisition with Office World first in November 1990, with Office World executive and Montgomery Ward becoming minority shareholders. Hurwitz left the company in 1993 and Feuer became the chairman and chief executive officer. On July 5, 1988, OfficeMax opened its first retail store in the Golden Gate Shopping Center in Mayfield Heights, Ohio after being open for 27 years, this location closed on May 16, 2015. Hurwitz served as executive chairman and chief executive officer, and Feuer was the president and chief operating officer. On April 1, 1988, OfficeMax was founded in Cleveland, Ohio, by Bob Hurwitz and Michael Feuer. OfficeMax in Mexico City An OfficeMax in Ann Arbor, Michigan. The first OfficeMax store, located in Mayfield Heights, Ohio. The OfficeMax name continues to serve as a brand of The ODP Corporation. The merger was completed on November 5, 2013, creating the largest U.S. On February 20, 2013, an all-stock merger between Office Depot and OfficeMax was announced. In 2012, net sales were $6.9 billion, down from $8.3 billion in 2008. As of December 2012, OfficeMax operated 941 stores in 47 states, Puerto Rico, the U.S. It is now a subsidiary of The ODP Corporation, which is headquartered in Boca Raton, Florida. OfficeMax is an American office supplies retailer founded in 1988.
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