Grainger Announces Acquisition Of Safety Solutions Incorporated
Chicago, IL - Grainger acquired Safety Solutions Inc., a Dublin, Ohio-based distributor of safety footwear, supplies and services with a strong focus on the manufacturing sector. In 2012, Safety Solutions Inc. had sales of $63 million. The terms of the deal were not disclosed. Including integration costs, Grainger expects the acquisition to be slightly dilutive to earnings in 2014 and slightly accretive in 2015.
"Safety Solutions has a long history of providing great customer service and an impressive offering of safety products and services, making this an ideal fit with Grainger," said Court Carruthers, Senior Vice President and Group President, Americas. "This acquisition extends Grainger's strong position in safety with a leading on-site safety footwear service and a unique benefit management program that tracks purchasing and compliance for customers."
Grainger Announces Intent To Divest Additional Specialty Brands
Chicago, IL - Grainger announced that it has signed a contract to sell all of the assets associated with Gempler's, Ben Meadows and AW Direct, previously maintained under Grainger's Specialty Brands portfolio. In aggregate, the three brands represent an estimated $90 million in revenue in 2013. The company does not expect this divestiture to have a material effect on earnings. The buyer, Ariens Company, based in Brillion, Wis., is a leading manufacturer of outdoor power equipment for both consumer and professional use. The transaction is expected to close by year end. Terms of the deal were not disclosed.
As Grainger previously announced, following a strategic review it was determined that the direct marketing brands within the Specialty Brands fall outside the company's long-term focus. This transaction completes the realignment of the Specialty Brands portfolio.
