Grainger sells library supplies brand to DEMCO

By Reuters
Posted Dec. 20, 2010 at 10:49 a.m.

Industrial products supplier WW Grainger Inc. said it sold its library supplies brand Highsmith to DEMCO Inc and is considering the sale of four more specialty brands.

The company, which offers almost everything from abrasives to refrigerants, said it may sell Professional Equipment, Construction Book Express, McFeely’s and Rand — which along with Highsmith accounted for one percent of its revenue.

Chicago-based Grainger said it will continue to invest in the remaining brands including Lab Safety Supply, Imperial, Gempler’s, Ben Meadows and AW Direct, and look for acquisitions.

Shares of Grainger were trading at $136.73 Monday morning on the New York Stock Exchange. The stock has risen by 9 percent since the company raised its fourth-quarter and 2011 outlook on Nov. 17.

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