Avnet acquisition expands customer base in Israel
Avnet has has added 300 new customers in Israeli networking, telecoms, defence and industrial markets by buying local distributor C.R.G. Electronics.
“The acquisition of CRG will strengthen our position in the design intensive Israeli high-tech market by adding complementary product lines and a highly reputable technical team,” said Patrick Zammit, president of Avnet Electronics Marketing EMEA.
For the calendar year 2011, the electronic components business of CRG had revenues of $23m.
“CRG’s technical resources and customer service commitment will help us to further enhance our strategy of providing technical support to our Israeli customers at the point of design and support them with global fulfillment capability from manufacturing ramp through end of life,” said Zammit.
The investment is expected to be immediately accretive to earnings and supports Avnet’s return on capital goal of 12.5%.