Deal builds on MRO distributor's investments in Latin America
W.W. Grainger has formed a joint venture in Colombia with an affiliate of Torhefe SA, THF International SAS, the distributor announced today. Grainger owns an 80% stake in the joint venture, with THF International SAS maintaining a 20% interest. The joint venture acquired the assets of Torhefe and will be known as Grainger Colombia, the company said. Terms of the deal were not disclosed.
Torhefe is a leading MRO distributor in Colombia with an emphasis on fasteners. The distributor has five locations in Colombia and had 2009 sales of $23 million (US).
Grainger said the joint venture will operate under the Torhefe brand name in its existing locations, transitioning to the Grainger name over the next year.
The deal builds on Grainger's other business in Latin America, which includes locations in Mexico, Panama, Puerto Rico, and Trinidad as well as export business through representatives in Brazil, Chile, Colombia, Costa Rica, the Dominican Republic, El Salvador, Peru, and Venezuela.