France-based Sonepar has agreed to purchase Cory’s Electrical, currently part of Crane Distribution NZ Limited. The acquisition will be Sonepar’s first entry into the New Zealand market.
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Corys Electrical is a nation-wide distributor of electrical products and services to electrical contractors, industrial users and utilities. It generated NZ$115 million (US$95.4 million) in revenue in 2011. It has 38 branches that span across the North and South Islands of New Zealand.
Steve Priest, general manager of Corys Electrical, and the 220 associates will join the Sonepar team.