Summary
Fastenal Company (FAST) announced on December 9, 2009, its entry into a definitive agreement to acquire certain assets of Holo-Krome, a domestic producer of socket head screw products. This acquisition is strategically aimed at strengthening Fastenal's position within its core market. The financial impact of the acquired Holo-Krome business is noted as being less than 1% of Fastenal's consolidated sales for the year ended December 31, 2008, indicating a relatively small but potentially complementary addition. The transaction is expected to close on December 18, 2009, signifying a near-term integration into Fastenal's operations.
Key Highlights
- 1Fastenal Company is acquiring assets of Holo-Krome, a domestic producer of socket head screw products.
- 2The acquisition is expected to enhance Fastenal's presence in its core market.
- 3The financial contribution of Holo-Krome's sales was less than 1% of Fastenal's consolidated sales for the year ended December 31, 2008.
- 4The definitive agreement for the asset acquisition has been signed.
- 5The transaction is anticipated to close on December 18, 2009.
- 6This filing is an 8-K report detailing the acquisition announcement.
- 7Daniel L. Florness, CFO, signed the report.