Grainger divests joint venture in S. Korea

PRNewswire

METTAWA — Grainger said it has divested its 49 percent stake in MRO Korea to affiliates of its former partner, SK Networks, for $12 million, resulting in a net gain of approximately $5 million.

SK Group intends to transform the MRO Korea business model into a social enterprise, focused on job creation for the underprivileged.

“We have enjoyed a good working relationship with SK Networks since 2000 and we wish them continued success as they take the business in a new direction,” said Court Carruthers, president, Grainger International. “We look forward to continuing to serve businesses in South Korea, including our multinational customers, through our export business.”

Asia remains a key focus area for Grainger's international expansion efforts.  The company operates several businesses in Asia including:

Ÿ Grainger China, a broad line MRO distributor serving customers through a catalog, website and branch network;

Ÿ Grainger India, a master distributor with more than 2,000 dealer relationships across the country; and

Ÿ A 53 percent interest in MonotaRO, providing small and mid-sized businesses in Japan access to more than one million MRO products through a catalog, website and distribution centers in Osaka and Sendai.

Additionally, Grainger serves customers throughout Asia via its export business and network of authorized resellers in key markets.