I’m delighted to announce that Avnet’s strategic acquisition of Premier Farnell has received regulatory approval and is now a part of the Avnet team! This business transaction is transformational for the company, creating a truly unique distribution model where we can engage a whole new set of customers much earlier in the lifecycle and partner with them from idea through production.
For Premier Farnell, the mission started out quite simple: Help customers get the parts they need when they need them. The world has changed a lot since its inception in 1939. The radio engineer has given way to other types of engineers – maintenance and facilities engineers, industrial engineers, design engineers, student engineers and the purchasing professionals who work with them. What was a straightforward catalog business evolved into a global technology company, with more than 30,000 products shipped per day -- that now becomes a massive market opportunity for Avnet!
Whether researching a new technology or designing an electronic product, Premier Farnell is a trusted global source for engineering solutions. Premier Farnell’s 430,000 registered users will be introduced to the Avnet environment, which dramatically expands our digital footprint and exposure into the engineering community.
Premier Farnell CEO Jos Opdeweegh is leaving the organization, and their General Counsel, Steven Webb, will assume interim leadership as President, reporting to me, until a permanent successor is named.
We’ve set up a Transformation Team under the leadership of Kevin Yapp (Senior Vice President of Digital Transformation) and a Program Management Office under the leadership of Peggy Carrieres (Global Director of Customer Engagement) to ensure the success of this transition. Please direct transition-related questions to premierfarnellquestions@avnet.com.
With Avnet’s expertise in large volume broadline distribution and Premier Farnell’s specialties in smaller scale ideas and design, we will deliver distribution innovation across the broadest spectrum of customers. Together, we become a global end-to-end solutions partner that will fuel a new chapter of growth for Avnet.
Thank you for welcoming our new colleagues and lending your support during these exciting times!