Grainger: Plans to Acquire 53% of Japanese Joint Venture
Chicago, IL-based Grainger, broad line distributor of facilities maintenance products, said it plans to become a 53% majority owner of MonotaRO, a direct marketer of MRO supplies in Japan. Grainger expects to invest $4 million through a tender offer bid process later this summer.
MonotaRO started as a joint venture between Grainger and Sumitomo Corp. in 2000. The business offers more than 110,000 products to more than 320,000 customers. In 2008, MonotaRO had revenues of $136 million and operating earnings of $11 million.
Grainger CEO Jim Ryan says that Grainger estimates the Japanese MRO market at $50 billion. "This increased investment, along with our recent acquisition of Asia Pacific …
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