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The acquisition complements Rexel's position in Canada, one of the world's largest markets, and is consistent with Rexel's strategic aim of strengthening its market share in key mature markets, according to a press release from the company.
Operating from 13 branches located in the provinces of New Brunswick, Nova Scotia and Prince Edward Island, Liteco posted sales of €50 million (US$65.8 million) in 2011 and its profitability is in line with Rexel's operations in the country. Liteco employed 120 people at Dec. 31, 2011.
Liteco serves a large base of customers in the residential, commercial, industrial and marine sectors.