Grainger Intends to Acquire Fabory Group for $344M

Grainger

today announced its intention to acquire the shares of Fabory Group, a European distributor of fasteners and related MRO products. The transaction price will be approximately $344 million (euro 242 million). The parties plan to enter a definitive agreement upon completion of required consultations with Works Councils representing Fabory employees in the Netherlands, Belgium and France. The transaction is subject to customary closing conditions and is expected to be completed in the third quarter of 2011.