Rexel has agreed to sell its operations in Latin America to Sonepar for an enterprise value of $51 million.
This divestment is part of Rexel’s previously-announced disposal plan in order to reallocate its resources to its most profitable activities. The plan was announced at the presentation of the 2014 full-year results on February 12, 2015.
Rexel currently operates in 3 countries in Latin America: Brazil, Chile and Peru. Combined, these three countries’ contribution to Rexel’s 2014 consolidated sales amounted to 256.8 million euros, representing about 2% of consolidated Group sales. As a result of this acquisition, Sonepar now operates in 43 countries around the world and will be strengthening its market leadership in Brazil.
The divestment of all of its operations in Latin America will allow Rexel to refocus its managerial efforts on its three main geographies (Europe, North America and Asia-Pacific) and continue its targeted acquisition policy in these regions.
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