Sonepar has made the strategic decision to divest Corys Electrical in New Zealand to D2A, a global multi-channel distribution company operating across Asia, Oceania, and Europe, which is effective immediately.
Corys Electrical has been a key player in the New Zealand market since 1920. Since Sonepar became its shareholder in 2012, the Group has worked closely with the Corys team to strengthen its position in a highly competitive environment.
As part of our ongoing strategic portfolio review and as a responsible and forward-looking shareholder, Sonepar believes the time has come to give Corys a fresh impetus and has made the considered decision to transition ownership of Corys to a new partner.
Sonepar is confident that D2A is well positioned to support Corys’s continued development and profitable growth. Notably, in 2023, Sonepar also divested its DIY business in France to D2A, reinforcing our trust in their capabilities and vision.
Jean-Cyrille Verspieren, Sonepar President Asia-Pacific, commented: On behalf of the Sonepar Group, I would like to express our sincere gratitude to the management and associates of Corys for their dedication, professionalism, and the achievements we have shared together as part of the Sonepar family. I wish all Corys associates every success as they begin this new chapter with D2A.