CHICAGO (AP) — W.W. Grainger Inc. sold its library supplies provider Highsmith to Demco Inc. for an undisclosed amount.
Highsmith was part of Grainger's U.S. specialty brands portfolio. Grainger, a supplier of industrial maintenance and safety products, said Monday that it said it is considering the potential sale of four other brands in the portfolio including Professional Equipment, Construction Book Express, McFeely's and Rand.
Highsmith and the four other brands make up about 1 percent of Grainger's total revenue.
Ralph Howard, vice president and general manager of Grainger Specialty Brands said in a statement that the Lake Forest, Ill.-based company will continue to invest in those that remain in the portfolio, including Lab Safety Supply, Imperial, Gempler's, Ben Meadows and AW Direct. The company will also look for possible acquisitions to grow the portfolio, he added.
Shares of W.W. Grainger rose 41 cents to $136.60.
