Peter Phillips, president of Lower Swatara Township-based Phillips Office Solutions, told the company's employees this morning about the deal that was finalized Dec. 31, the company said in a statement. Financial terms of the deal are not being disclosed.
"It was a difficult decision to sell the office supply division," Phillips said in a statement. "But it's reassuring to know the high value Guernsey places on the Phillips name and on the deep relationships we have fostered with our customers."
As part of the deal, the office supply division will keep the Phillips name, according to the company. It will continue operating out of its headquarters and distribution center at 501 Fulling Mill Road, and will retain its 76 employees in the office supply division.
Guernsey, based in Dulles, Va., is an independent family-owned provider of office products, furniture, break-room products, promotional products and related services. The company serves more than 8,000 accounts from facilities in Washington, D.C.; Baltimore; and Norfolk and Richmond, Va.
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Editor's note: This story was modified to clarify that the office supply division will keep the Phillips name.