Grainger creates joint venture

LAKE FOREST - Grainger announced it has formed a joint venture with an affiliate of Torhefe S.A., THF International SAS. Grainger owns an 80 percent majority position in the joint venture, with THF International SAS maintaining 20 percent. The joint venture has acquired substantially all of the assets of Torhefe and will be known as Grainger Colombia, the company said in a release. Terms of the deal were not disclosed. Torhefe, with 2009 sales of $23 million, is a leading distributor of maintenance, repair and operating supplies in Colombia, with an emphasis on fasteners. The company has five locations in Colombia, including Barranquilla, Bogota, Cali, Cartagena and Medellin. The joint venture plans to operate under the Torhefe brand name in its existing locations, transitioning to the Grainger name over the next year.