Private equity firm Sycamore Partners has finalized its $6.9 billion acquisition of Staples Inc., the parent company of Top 40 distributor Staples Promotional Products (asi/120601). As a result of the deal, the office supply chain will no longer be listed for trading on Nasdaq. CEO Shira Goodman will continue in the top spot at Staples.

New York-based Sycamore Partners specializes in consumer and retail investments. The firm owns Talbots, Coldwater Creek, Hot Topic, Nine West, The Limited and more.

Last year, a federal judge stopped Staples from merging with Office Depot in what would have been a $6.3 billion deal. The court ruled in favor of regulators who argued that the merger would reduce competition and raise prices, especially in the B2B office supply sector.

After closing 18 stores in the first quarter of the year, Staples has 1,255 stores in the U.S. and 304 in Canada. In May, Staples Inc. reported a 5% sales decline to $4.1 billion for Q1. The promotional products arm of Staples, however, is still a strong performer. Counselor estimated that the company generated nearly $600 million in 2016 North American promotional products revenue, a year-over-year rise of 7%.