W.W. Grainger Inc. has formed a joint venture with an affiliate of Torhefe S.A. to expand in Latin America, the industrial maintenance company said Monday.
Torhefe is a leading distributor of maintenance, repair and operating supplies in Colombia, with an emphasis on fasteners.
Grainger owns 80 percent of the the joint venture and will be known as Grainger Colombia. Further financial terms of the deal were not disclosed.
Grainger reported this month that daily sales rose 16 percent, in part because of acquisitions.
Shares of Grainger rose 37 cents, to $108.63, in afternoon trading.
