W.W. Grainger Inc. is expanding further into Latin America by buying Brazilian supply company AnFreixo SA. Grainger, which sells hand tools, cleaning products and other equipment to businesses, bought the company from Brazilian industrial conglomerate Votorantim Group. Financial terms of the deal were not disclosed. Grainger said the deal adds to other recent investments in Latin America and helps keep its customers with operations in Brazil stocked. Grainger said its business in the region includes operations in Colombia, Costa Rica and Mexico. AnFreixo sells maintenance, repair and operating supplies to more than 2,000 customers from its Sao Paulo distribution center. A significant amount of its sales are to Votorantim, Grainger said, and it will continue supplying Votorantim under a long-term supply agreement. Last month Chicago-based Grainger reported that its February sales rose 18 percent, boosted by contributions from recent acquisitions. Source: businessweek.com
Source:
http://www.businessweek.com/ap/2012-04/D9TTF06G0.htm
