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Ikea, the brand new $20 million office supply company, has been announced for sale

Ikea is reportedly in serious talks to sell its brand new office supply business to a private equity firm.

The New York Times reports that the company, which was founded by former Apple execs Ikea founder and CEO Stefano Guernsey and former Apple executive Tim Cook, has secured an investment of up to $20m from German investment group Kering Capital.

The report also suggests that the deal could be done at a discount.

Ikea’s offices in Seattle, Portland, Washington, and in Paris are the latest office supplies to be snapped up by investors, and it has been one of the best-performing retailers in the US for the past year.

The company currently has a presence in over 400 US cities, and has more than 10,000 employees worldwide.