June 5, 2009 (FinancialWire) — Grainger (NYSE: GWW), a distributor of facilities maintenance products, said it has signed a definitive agreement to acquire full ownership of its joint venture in India, Asia Pacific Brands India Private Ltd., an industrial and electrical wholesale distributor.

Under the deal, Grainger will contribute an estimated $1.2 million to gain full ownership. Late last year, the company wrote down its investment due to the bankruptcy filing of Asia Pacific’s largest supplier.

Grainger CEO Jim Ryan said “As that economy gets more competitive, Indian companies want efficient and reliable ways to get the quality products they need to keep their facilities running and their employees safe.”

He added that Asia Pacific, with annual revenues of around $30 million, will provide the company “a starting position in a large, high potential MRO market.”

Asia Pacific Brands has more than 20 locations and more than 4,000 dealer relationships across India, and plans to go to market under the Grainger brand.

Chicago-based W.W. Grainger is a broad line supplier of facilities maintenance products serving businesses and institutions in the United States, Canada, Mexico, China and Panama.

The company’s network includes more than 600 branches, 18 distribution centers and multiple web sites.

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