Avnet Inc. has reached agreement to purchase Premier Farnell plc. Headquartered in Leeds, UK, Premier Farnell is a global distributor of electronic components and related products. The company delivers engineering solutions to the electronic system design community utilizing multi-channel sales and marketing resources.
Already one of the world's largest global distributors of electronic components, computer and IT solutions, embedded technology, and services, Avnet says the acquisition will significantly strengthen its digital footprint worldwide, bolster its strategy of providing a differentiated digital experience (from product ideation through to its lifecycle), and give Premier Farnell’s customers access to an extensive supply-chain suite.
Bank of America Merrill Lynch acted as financial advisor and Gibson Dunn & Crutcher LLP acted as legal counsel to Avnet on this transaction.