PARIS (Reuters) - French electrical materials supplier Rexel (RXL.PA) has agreed to buy Platt Electric Supply, an independent distributor of electrical products and services in the western United States, in a deal with an enterprise value of 300 million euros ($383 million).
Rexel’s market share in this region, which is expected to grow at a faster rate than the overall U.S. market, will exceed 10 percent following the acquisition, Rexel said in a statement on Wednesday.
The deal, which should close in early July, will boost Rexel earnings by the end of 2013, the company added.
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Reporting by James Regan; Editing by Elena Berton