Grainger Moves Into India Markets
Grainger Moves Into India Markets
Jason Sandefur
Grainger paid $5.4 million for a 49.9% stake in Asia Pacific Brands India Ltd., one of India’s largest industrial and electrical wholesale distributors.
Asia Pacific Brands operates 27 locations and more than 6,200 dealer relationships across India. Sales in 2008 reached US$47 million. Web: apbil.com
As part of the deal, Grainger matched a $1.1 million capital infusion with its joint venture partner intended to help grow the business.
“Our investment in Asia Pacific Brands allows us to extend our value into a new geography with the help of a locally established, well respected and profitable partner,” stated Grainger CEO Jim Ryan.
Fastener sales helped boost Grainger revenue by $349 million in 2007, with total sales growing 9% to a record $6.4 billion. Grainger has added more than 38,000 fastener products to its catalog since 2006. Web: grainger.com �2008 FastenerNews.com and Fastener & Fixing Europe
There are no comments at the moment, do you want to add one?
Write a comment