Posted August 22, 2011
Barnes to sell European businesses
Barnes Group Inc. announced that it has received a binding offer from Berner SE to acquire its Barnes Distribution Europe business, comprised of Kent, BD France and Toolcom.
Berner SE is a direct seller in Europe of consumables, tools and specialist technical chemicals, primarily in the construction and automotive industries.
"Berner has built outstanding brands and a reputation for customer service. We believe that this transaction presents an opportunity for the BDE businesses, when combined with Berner's capabilities, to further develop their potential," said Gregory F. Milzcik, president and chief executive officer.
Barnes Group's BDE businesses are headquartered in Switzerland and have offices in Belgium, Denmark, France, Germany, Italy, Netherlands, Spain and the UK. BDE's network of stocking distributors operates in over 25 countries, primarily in Europe.
Barnes Group's BDE businesses are currently reported within the company's Logistics and Manufacturing Services segment and had 2010 revenues of approximately $105 million.
