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Rexel SA of France has acquired a
74 per cent stake in Pune-based
Yantra Automation Pvt Ltd, an
industrial automation and control
products distributor. The move is in line
with Rexel's plan to penetrate emerging
markets like Brazil, China and India.
Rexel's investment in Yantra marks the
French firm's entry in the Indian market.
According to information available,
Rexel can acquire the remaining 26 per
cent stake in Yantra Automation through
put and call options in 2014 at a price to
be determined on the basis of the
Yantra's performance in 2012 and 2013.
The investments gives Rexel access to
India's industrial automation market, as
well as Yantra's central warehouse and
six regional offices with over 80 staffers.
Yantra automation began operations as a
switchgear marketing company but later
entered a business tie up with Rockwell
Automation India Ltd, as an authorized
channel partner distributor for industrial
automation products.
Paris-based Rexel is a global leader in
the distribution of industrial electrical
supplies. Rexel bought seven
companies in 2010 in a bid to expand its
global business in China, Brazil and
Switzerland. Rexel acquired Brazil's
Nortel Suprimentos Industriais and
Beijing Lucky Well Zhineng in China.
Rexel operates in 36 countries with
2,200 branches, a distribution network
of more than 40 banners and 28,000
employees. In 2010, Rexel recorded
sales of €12 billion.
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