Grainger forms joint venture in Colombia
Grainger has formed a joint venture with a Colombian MRO and fastener distributor to establish Grainger Colombia.
Grainger owns an 80 percent majority position in the joint venture, and Torhefe S.A., THF International SAS maintains 20 percent. The joint venture has acquired substantially all of the assets of Torhefe and will be known as Grainger Colombia. Terms of the deal were not disclosed.
"Grainger Colombia brings together Torhefe's rich history of customer service in Colombia, and Grainger's unmatched North American supply chain and commitment to service," said Court Carruthers, president, Grainger International. "Grainger continues to make strategic investments in Latin America that enable businesses to have access to a broad line of products and solutions that help keep their operations running efficiently and keep their employees safe on the job."
Torhefe, with 2009 sales of $23 million, is a distributor of maintenance, repair and operating (MRO) supplies in Colombia, with an emphasis on fasteners. The company has five locations in Colombia, including Barranquilla, Bogota, Cali, Cartagena and Medellin. The joint venture plans to operate under the Torhefe brand name in its existing locations, transitioning to the Grainger name over the next year.
"We share a common passion for providing superior service to our customers," said Carlos Acevedo, president, Torhefe. "We expect a seamless transition for our employees and customers and know they will appreciate and benefit from the expanded product offering and availability that comes from joining forces with North America's leading broad-line industrial distributor."
Saludos
INDUSTRIAL SUPPLY MAGAZINE
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