Grainger To Acquire Fabory Group For $344M

W.W. Grainger Inc

announced its plans to acquire Fabory Group for around $344 million. Grainger is expecting the deal to close in the current quarter. "Fabory provides a unique opportunity for Grainger to enter one of the world's largest MRO markets through an established and growing business," said Jim Ryan, Grainger Chairman, President and Chief Executive Officer. "Fabory brings expertise as a fastener specialist to amplify Grainger's product offering, while Grainger's scale and supplier network will help accelerate further growth of Fabory's business." GWW shares gained 1.97% to close at $135.84 on Friday.