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W.W. GRAINGER, INC. REACHES AN AGREEMENT IN PRINCIPLE TO ACQUIRE LAB SAFETY SUPPLY

 W.W. GRAINGER, INC. REACHES AN AGREEMENT IN PRINCIPLE
 TO ACQUIRE LAB SAFETY SUPPLY
 CHICAGO, March 16 /PRNewswire/ -- W.W. Grainger, Inc. (NYSE: GWW) announced today that it has reached an agreement in principle to acquire the assets and business of Lab Safety Supply, Inc., a leading direct marketer of safety products.
 Completion of the transaction is subject to the negotiation of definitive agreements and several contingencies, including the approval of the W.W. Grainger, Inc. board of directors.
 W.W. Grainger, Inc. will pay approximately $160 million for substantially all of the assets of Lab Safety, including the headquarters facility, and will assume certain liabilities.
 Founded in 1977, Lab Safety ships products throughout the United States from its headquarters complex in Janesville, Wis. It had sales of $117 million in 1991 and has approximately 600 employees.
 This acquisition represents an entry into direct marketing for W.W. Grainger, Inc., while enhancing the company's position in the safety products market.
 W.W. Grainger, Inc., with 1991 sales exceeding $2 billion, is a nationwide distributor of equipment, components, and supplies to the commercial, industrial, contractor, and institutional markets. GWW shares are traded on the New York and Midwest stock exchanges.
 -0- 3/16/92
 /CONTACT: R.D. Pappano of W.W. Grainger, 708-982-9000/
 (GWW) CO: W.W. Grainger Inc.; Lab Safety Supply Inc. ST: Illinois, Wisconsin IN: SU: TNM


AH-CK -- NY031 -- 8252 03/16/92 11:11 EST
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Publication:PR Newswire
Date:Mar 16, 1992
Words:237
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