Grainger to acquire Dutch fasteners distributor for $344 million

W.W. Grainger Inc. plans to buy European fastener distributor Fabory Group for $344 million. Based in the Netherlands, Fabory sells its 80,000 products in 14 countries. It had 2010 revenue of about $300 million. According to a press release announcing the acquisition, Grainger said it plans for Fabory to continue to operate as a separate business, keeping its name and brand.