Grainger Announces Agreement to Divest Grainger China
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Grainger, the leading broad line supplier of maintenance, repair and operating (MRO) products serving businesses and institutions, announced it has entered into a definitive agreement to sell its distribution business in China, Grainger China LLC (Grainger China), to a purchaser owned by the Grainger China management team and Sinovation Ventures, a China-based venture capital firm.
This divestiture will better enable Grainger to focus on its key businesses and geographies. To support this portfolio, the company will maintain its Global Sourcing operations based in China. Grainger's Global Sourcing provides the company with private label products in categories that include safety, cleaning, electrical, motors and tools.
This transaction is not subject to any financing condition but is subject to the standard regulatory approvals. The deal is expected to close later this year.