9/17/2009
NEWS BRIEFS
Grainger Acquires Majority Stake in Japan’s MonotaRO

Grainger completed its tender offer bid in Japan for 380,000 shares of MonotaRO Co. Ltd., a Japanese company listed on the Tokyo Stock Exchange, at a price of 1,010 Yen ($11.11) per common share. The transaction gives Grainger a 53% majority ownership in MonotaRO. Grainger will consolidate MonotaRO’s results beginning with the balance sheet in the third quarter of 2009.

As a majority owner, Grainger will recognize 100% of the fair value of acquired assets and assumed liabilities of MonotaRO.

Established in 2000 in Osaka, MonotaRO is a direct marketer of MRO supplies to businesses in Japan, offering more than 110,000 products to more than 320,000 customers. MonotaRO had 2008 revenues of $136M and operating earnings of $11 million.

Lake Forest, IL-based Grainger supplies 1.8 million customers in the U.S. Canada, Mexico and China through more than 600 branches and 18 distribution centers. Grainger reported 2008 sales of $6.9 billion. ©2009 GlobalFastenerNews.com

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