Acquisition Strengthens Leadership Position in Israeli Market

PHOENIX--(BUSINESS WIRE)-- Avnet, Inc. (NYSE:AVT) announced today that it has acquired the operating assets of the electronic components distribution business of C.R.G. Electronics Ltd. (CRG), an Israeli company. CRG is a distributor of high quality PC products and electronic components serving the Israeli electronics industry. The transaction has already received regulatory approval.

Founded in 1989 by Mr. Ronny Cohen, CRG provides pre- and post-technical support engineers, marketing, sales and inventory logistics to over 300 customers in the networking/datacom, telecom, defense and industrial segments. For the calendar year 2011, the electronic components business of CRG generated revenue of approximately $23 million. The acquired business will become part of Avnet Israel, a business region of Avnet Electronics Marketing EMEA.

"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. "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."

The investment is expected to be immediately accretive to earnings and supports Avnet's return on capital goal of 12.5%.

Forward-Looking Statements

This press release contains certain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on management's current expectations and are subject to uncertainty and changes in facts and circumstances. The forward-looking statements herein include statements addressing future financial and operating results of Avnet and may include words such as "will," "anticipate," "expect," believe," "intend," and "should," and other words and terms of similar meaning in connection with any discussions of future operating or financial performance or business prospects. Actual results may vary materially from the expectations contained in the forward-looking statements.

The following factors, among others, could cause actual results to differ materially from those described in the forward-looking statements: the Company's ability to retain and grow market share and to generate additional cash flow, risks associated with any acquisition or disposition activities, the successful integration of acquired companies, any significant and unanticipated sales decline, changes in business conditions and the economy in general, changes in market demand and pricing pressures, any material changes in the allocation of product or product rebates by suppliers, other competitive and/or regulatory factors affecting the businesses of Avnet generally.

More detailed information about these and other factors is set forth in Avnet's filings with the Securities and Exchange Commission, including the Company's reports on Form 10-K, Form 10-Q and Form 8-K. Except as required by law, Avnet is under no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

About Avnet

Avnet, Inc. (NYSE:AVT), a Fortune 500 Company, is one of the largest distributors of electronic components, computer products and embedded technology serving customers in more than 70 countries worldwide. Avnet accelerates its partners' success by connecting the world's leading technology suppliers with a broad base of more than 100,000 customers by providing cost-effective, value-added services and solutions. For the fiscal year ended July 2, 2011, Avnet generated revenue of $26.5 billion. For more information, visit www.avnet.com. (AVT_IR)

Visit Avnet's Investor Relations Website at www.ir.avnet.com or contact us at investorrelations@avnet.com.

Investor Relations Contact:
Avnet, Inc.
Vincent Keenan, +1 480-643-7053
Vice President, Investor Relations
Vincent.keenan@avnet.com
or
PR Contact:
Avnet Electronics Marketing EMEA
Georg Steinberger, +49-172-8228186
Vice President Communications, Avnet EM EMEA
Georg.Steinberger@avnet.com

Source: Avnet, Inc.

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