Guilbert U.K. Retirement Benefits Plan, Surrey, England, completed a £140 million ($179 million) bulk annuity deal with insurance firm Aviva.
The deal covers around 1,500 participants. Office Depot U.K. is the sponsor for the plan.
"The transaction was tightly managed and a close collaboration between teams, plus careful preparation helped deliver a smooth and efficient process; an increasingly important consideration for all parties in this busy market," said Emma Thomas, bulk purchase annuity deal manager at Aviva, in a news release.
A procurement process was led by PwC providing transaction advice, with Travers Smith providing legal advice and Mercer providing administration, scheme actuary and investment advice to the plan trustees.
Further detail were not immediately available.