Rexel, Paris, France, said it has acquired Liteco, the largest independent distributor of electrical supplies in the Canadian Maritimes region. This acquisition complements Rexel's position as the largest electrical distributor in Canada, one of the world's largest markets. Rexel said the move is consistent with its strategic aim of strengthening its market share in key mature markets.
Founded in 1976 and headquartered in Fredricton, New Brunswick, Liteco has 13 branches in the provinces of New Brunswick, Nova Scotia and Prince Edward Island employing about 120 people to serve a large base of customers in the residential, commercial, industrial and marine sectors. Liteco posted sales of approximately €50 million (about US$66 million) in 2011 and its profitability is in line with Rexel's operations in the country, Rexel said.
Rexel has over 200 branches across Canada that added about €1.2bn (just under US$1.6 billion) to the Rexel Group's consolidated sales and posted double-digit organic growth (+11.4%) in 2011.