METTAWA -- Grainger announced it has completed its acquisition of Fabory Group, a leading European distributor of fasteners and related MRO products.
Grainger announced its intention to acquire Fabory on August 15 and anticipates that the transaction will be neutral to earnings per share in 2011 and 10 to 12 cents in 2012.
"We are delighted to complete this acquisition so promptly and to officially welcome the Fabory team to Grainger," said Court Carruthers, president, Grainger International. "We look forward to working with Fabory leadership to accelerate their branch and product expansion plans while leveraging their expertise as a fastener specialist to benefit all of our businesses."
Fabory is headquartered in Tilburg, the Netherlands, and is a fastener market leader in the Netherlands and Belgium. With projected 2011 sales of $350 million, Fabory offers its 120,000 customers access to more than 80,000 products in 14 countries. Fabory continues to expand its branch network and product line, with a particular focus on Central and Eastern Europe.
The acquisition of Fabory gives Grainger a presence in the world's largest MRO market with an established and highly regarded business. Grainger plans to continue its international expansion efforts, focusing on geographies that offer significant growth opportunities, including Latin America and Asia.