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regional chain, was acquired on June 30, 1992. The company then acquired BizMart, its largest acquisition (104 stores) to date, in 1993 from Intelligent Electronics. 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. OfficeMax acquired a 19% stake in Corporate Express, a contract stationer. In May 1994, Kmart put a plan in front of its stockholders to sell 20% to 30% of each of its specialty store subsidiaries

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