Acklands-Grainger Announces Agreement To Acquire WFS Enterprises Inc.

Resource from: CNW Likes:166

Jul 22,2014

TORONTO, July 21, 2014 /CNW/ -- Acklands-Grainger, Canada's largest distributor of industrial, safety and fastener products, today announced its agreement to acquire WFS Enterprises Inc., a leading distributor of tools and supplies to industrial markets in Southern Ontario and select U.S. locations. The acquisition is expected to be accretive in the first calendar year of operations. Terms of the transaction were not disclosed. Founded in 1955 as Windsor Factory Supply and based in Windsor, Ontario, WFS offers customers more than 100,000 products with a focus on safety, metalworking, plumbing, and hand and power tools. The company employs approximately 275 people and has 12 locations including 10 branches in Southwest Ontario, and two locations in the U.S., in Michigan and South Carolina. WFS had 2013 sales of approximately CAD $90 million/ USD $87 million. "This acquisition will create greater customer value through a broader product offering, additional solutions and technical expertise relevant to the manufacturing sector," said Court Carruthers, Group President, Americas, Grainger. "Acklands-Grainger and WFS share a rich history and similar values around great customer service and a strong team focus." Subject to regulatory approval and certain customary closing conditions, this transaction is expected to close in the third quarter of 2014. About Acklands-Grainger Inc. Founded in 1889, Acklands-Grainger is Canada's largest distributor of industrial, safety, and fastener products, with over 350,000 products available from 171 branches and six distribution centres coast to coast. For more information about Acklands-Grainger, please visit acklandsgrainger.com/info. Its parent company, W.W. Grainger, Inc. (NYSE:GWW - News), with 2013 sales of $9.4 billion, is North America's leading broad line supplier of maintenance, repair and operating products, with operations in Asia, Europe and Latin America. For more information about the company, visit www.grainger.com.

(CNW)

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