Avnet completes acquisition of Premier FarnellStaff Writer | October 17, 2016
Avnet has completed its acquisition of Premier Farnell in an all cash merger for £1.85 per share, which equates to an equity value of approximately £691 million.
Acquisition Approved by Premier Farnell shareholders
The transaction is expected to be immediately accretive to earnings and, once the integration is complete, expects to generate annual synergies of approximately $70 million to $80 million.
Headquartered in Leeds, United Kingdom, Premier Farnell is a global distributor of electronic components that utilizes a digital platform to provide innovators and engineers with the latest products, services and development software.
The company supports a registered community of more than 430,000 members in 36 countries with multi-channel sales and marketing resources that combine traditional field sales and contact resources with innovative ecommerce interfaces. ■