Grainger to sell Grainger China
Grainger has agreed to sell its distribution business in China, Grainger China LLC, to a purchaser owned by the Grainger China management team and Sinovation Ventures, a China-based venture capital firm.
The company said the divestiture will better enable Grainger to focus on its key businesses and geographies. Grainger will maintain its Global Sourcing operations based in China, which provides the company with private label products in categories that include safety, cleaning, electrical, motors and tools.
"I applaud the Grainger China team members for doing a remarkable job to drive profitable growth over the years," said DG Macpherson, chairman and CEO of Grainger. "The management team is strong and well positioned for even greater success moving forward. Grainger continues to have a relentless focus on providing customer value through our high-touch and endless assortment offerings, and doing so in the geographies that make the most sense for us."
This transaction is not subject to any financing condition but is subject to the standard regulatory approvals. The deal is expected to close later this year.
This marks the second divestiture of an overseas business for Grainger this month. On June 2, Grainger announced the planned sale of Fabory Group to Torqx Capital Partners, a Dutch private equity company. Based in The Netherlands, Fabory is a distributor of fasteners and related MRO products.
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
