Grainger divests Korean joint venture

Grainger announced that it divested its 49 percent stake in MRO Korea to affiliates of its former partner, SK Networks, for $12 million.

The sale resulted in a net gain to Grainger of approximately $5 million. SK Group intends to transform the MRO Korea business model into a social enterprise, focused on job creation for the underprivileged.

"We have enjoyed a good working relationship with SK Networks since 2000 and we wish them continued success as they take the business in a new direction," said Court Carruthers, president, Grainger International. "We look forward to continuing to serve businesses in South Korea, including our multinational customers, through our export business."

Asia remains a key focus area for Grainger's international expansion efforts. The company operates several businesses in Asia, including Grainger China, a broad line MRO distributor serving customers through a catalog, website and branch network; Grainger India, a master distributor with more than 2,000 dealer relationships across the country; and a 53 percent interest in MonotaRO, providing small and mid-sized businesses in Japan access to more than one million MRO products through a catalog, website and distribution centers in Osaka and Sendai.

Additionally, Grainger serves customers throughout Asia via its export business and network of authorized resellers in key markets.

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