Chicago, IL-based Grainger, broad line distributor of facilities maintenance products, has agreed to acquire full ownership of its joint venture in India, Asia Pacific Brands India Private Limited, an industrial and electrical wholesaler-distributor. Grainger is paying $1.2 million.
"We are excited about growing our business in India," said Grainger’s CEO Jim Ryan. "As that economy gets more competitive, Indian companies want efficient and reliable ways to get the quality products they need to keep their facilities running and their employees safe. With annual revenues of approximately $30 million, Asia Pacific will provide us a starting position in a large, high-potential MRO market."
Late last year, the company wrote down its investment in …
Grainger Agrees to Acquire Full Ownership of India Joint Venture
Chicago, IL-based Grainger, broad line distributor of facilities maintenance products, has agreed to acquire full ownership of its joint venture in India, Asia Pacific Brands India Private Limited, an industrial and electrical wholesaler-distributor. Grainger is paying $1.2 million.
"We are excited about growing our business in India," said Grainger’s CEO Jim Ryan. "As that economy gets more competitive, Indian companies want efficient and reliable ways to get the quality products they need to keep their facilities running and their employees safe. With annual revenues of approximately $30 million, Asia Pacific will provide us a starting position in a large, high-potential MRO market."
Late last year, the company wrote down its investment in …
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