W. W. Grainger, Lake Forest, Ill., has bought a 49.9 percent stake in Asia Pacific Brands India Ltd., one of India’s largest industrial and electrical wholesale distributors.
The company paid $5.4 million; at the same time, the company matched a $1.1 million capital infusion with its joint venture partner intended to help grow the business.
With 27 locations and more than 6,200 dealer relationships across India, Asia Pacific Brands had revenue of $47 million for its fiscal year ended March 31.
“We’re leveraging Grainger’s strengths in supply chain management, product breadth, and superior customer service in emerging markets,” said Grainger President and Chief Executive Officer Jim Ryan. “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.”
“Our goal at Asia Pacific Brands is to help manufacturers reach the widest possible market in a consistent, predictable and cost-effective way,” said Graham Pickles, chairman, Asia Pacific Brands India Ltd. “We couldn’t ask for a better partner to help us achieve this objective than Grainger.”
Grainger ranks No. 8 on EW’s Top 200 Electrical Distributors listing.