W.W. GRAINGER PURCHASES LAB SAFETY SUPPLY, INC.
W.W. GRAINGER PURCHASES LAB SAFETY SUPPLY, INC. CHICAGO, April 30 /PRNewswire/ -- W.W. Grainger, Inc. (NYSE: GWW)
announced today that it has completed the purchase of Lab Safety Supply, Inc. (Lab Safety), a leading direct marketer of safety products.
W.W. Grainger, Inc. paid $160 million for substantially all of the assets of Lab Safety, including the headquarters facility, and assumed certain liabilities. Founded in 1977, Lab Safety ships product throughout the United States from its headquarters complex in Janesville, Wis. It had sales of $117 million in 1991 and employs 600 people. 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. (GWW), 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- 4/30/92 /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
SH-OS -- NY084 -- 5069 04/30/92 15:15 EDT
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|Date:||Apr 30, 1992|
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