TORONTO, Nov. 30 /CNW/ - Acklands-Grainger Inc., a wholly owned subsidiary of Grainger, North America's leading industrial distributor, today announced that it has acquired the assets of the K&D Pratt Industrial Division effective November 28, 2009. The industrial division, with 2008 sales of approximately C$12 million, is a distributor of industrial and safety products with facilities in Dartmouth, NS, St. John's, NL, and Saint John, NB. It was previously one of six business units owned and operated by K&D Pratt Group Inc. Terms of the deal were not disclosed.
"We are very excited about joining forces with the K&D Pratt Industrial Division and anticipate it will help us enhance our position as our customers' indispensable partner in keeping their facilities safe, efficient and functional," said Sean O'Brien, President of Acklands-Grainger. "They are a leading distributor in Atlantic Canada and their solid customer relationships and service excellence will further enhance our strong local presence in this key and growing region."
"Our company and its employees have diligently served the Atlantic Canada business community with strong technical expertise over the last 30 years," said Andrew Bell, President of K&D Pratt Group Inc. "Divesting the Industrial business unit to a like-minded company such as Acklands-Grainger will provide a seamless transition for the customers of this division and allow K&D Pratt Group Inc. to strengthen its technical expertise and demonstrate continued leadership in its remaining five business units."
Acklands-Grainger is Canada's largest distributor of industrial, safety and fastener products dedicated to providing customers the broadest product offering, unmatched coverage and exceptional service. Today, the company operates seven locations in Atlantic Canada, including two new branches in Sydney, NS and Fredericton, NB opened in 2009.
About Acklands-Grainger, Inc.
Founded in 1889, Acklands-Grainger is Canada's largest distributor of industrial, safety, and fastener products, with over 100,000 in-stock products available from 161 branches and five distribution centres coast to coast to coast. For more information about Acklands-Grainger, please visit www.acklandsgrainger.com.
Its parent company, W.W. Grainger, Inc., with 2008 sales of $6.9 billion, is the leading broad line supplier of facilities maintenance products serving businesses and institutions in United States, Canada, Japan, Mexico, India, China and Panama. Through a highly integrated network including more than 600 branches, 18 distribution centers and multiple Web sites, Grainger's employees help customers get the job done. For more information about the company, please visit www.grainger.com/investor.
About K&D Pratt Group Inc.
K&D Pratt Group Inc. has been serving Atlantic Canadian industry for over 80 years with products, solutions and technical expertise in a range of customer segments. With facilities in Dartmouth, NS, St. John's, NL, and Saint John, NB, K&D Pratt operates over 100,000 sq. ft. of office and warehouse space and employs over 90 personnel.
K&D Pratt Group Inc.'s priority has always been superior customer service and technical expertise. The company represents an extensive list of quality manufacturers, offering customers a comprehensive line up of products and services in the following categories: communications, offshore, fire, logistics and instrumentation. For more information about K&D Pratt, visit www.kdpratt.com
This document contains forward-looking statements under the federal securities law. The forward-looking statements relate to the company's expected future financial results and business plans, strategies and objectives are not historical facts. They are generally identified by qualifiers such as "expect," "expects," "expected," or similar expressions. There are risks and uncertainties the outcome of which could cause the company's results to differ materially from what is projected. The forward-looking statements should be read in conjunction with the company's most recent annual report, as well as the company's Form 10-K and other reports filed with the Securities & Exchange Commission, containing a discussion of the company's business and various factors that may affect it.
SOURCE Acklands-Grainger Inc.
For further information: For further information: Media: Jan Tratnik, Director, Public Affairs & Corporate Communications, (847) 535-4339; Leslie Murray, Director, Marketing, Acklands-Grainger Inc., (905) 707-2976; Investors: Ernest Duplessis, Vice President, Investor Relations, (847) 535-4356; William Chapman, Director, Investor Relations, (847) 535-0881