Grainger to Divest Additional Specialty Brands
Grainger (NYSE: GWW) today 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.
W.W. Grainger, Inc. with 2012 sales of $9 billion is North America's leading broad line supplier of maintenance, repair and operating products, with expanding global operations. For more information about the company, visit www.grainger.com/investor.
About Ariens Company
Established in 1933 in Brillion, Wis., Ariens Company is