Rexel Makes Acquisition in China
Rexel, distributor of electrical supplies, has acquired Suzhou Xidian in China. Rexel has been investing in China since 2000.
The acquisition is the second in China in the past 12 months.
Suzhou Xidian's 2007 sales were €38 million (US$55.6 million). The electrical supplies distributor has 115 employees and seven branches, six of which are in the Shanghai area and one in Beijing. It mainly serves the commercial and industrial markets.
Under the terms of the transaction, Rexel will hold 73.5% of the firm, and will increase its stake to 100% in three years.
The acquisition of Suzhou Xidian follows that of Huazhang Electric Automation in March 2007. Rexel posted 2007 pro-forma sales of 120 million euros (US$175.7 million), and has 580 ...
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