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Avnet, Inc. Announces Intent to Acquire European Distributor MSC Investoren GmbH

  Avnet, Inc. Announces Intent to Acquire European Distributor MSC Investoren
  GmbH

  Significantly Expands Presence in Embedded Computing and Display Solutions

Business Wire

PHOENIX -- July 8, 2013

Avnet, Inc. (NYSE:AVT) announced today that it has entered into an agreement
to acquire MSC Investoren GmbH (“MSC Group”), a European distributor focused
on electronic component distribution, embedded computing technology and
display solutions. The agreement details a two-step approach whereby Avnet
will acquire a majority interest in MSC Group after regulatory approval has
been granted with the intent to acquire the remainder of the company within a
short time frame.

MSC Group is a recognized value-added distributor that leverages its unique
combination of distribution, production and system integration capability to
address the emerging customer demand for more complex electronic products. The
company generated revenue in excess of US$450 million in the 2012 calendar
year, with embedded computer technology (including display solutions)
accounting for almost 50% of its sales.

Harley Feldberg, president of Electronics Marketing Global, commented, “The
addition of the MSC Group is a strong fit with our strategy to invest in
margin enhancing acquisitions that complement our existing design and supply
chain services, while also expanding growth opportunities in the region. With
extensive engineering resources and a strong focus on design-in services, the
MSC Group has built a solid reputation as a single source for complete
solutions serving customers in the European industrial electronics market. By
leveraging the combined skills of both organizations, we will be well
positioned to better serve the needs of our customer base in the region.”

Founded in 1979, MSC Group has grown to be a consultative partner to customers
in the automotive, industrial automation, telecom, information systems and
medical device markets. MSC Group’s logistics and distribution capabilities,
along with its competence in board-level assemblies and system integration,
allows it to address customers’ demand profiles along the electronics value
chain. With a team of field application engineers and product specialists, MSC
Group provides a range of technical support throughout the entire product
development chain from design to finished system. The operations of MSC Group
will be integrated into the European business region of Avnet’s Electronics
Marketing operating group.

Patrick Zammit, president of Electronics Marketing EMEA, added, “MSC Group’s
distribution portfolio is a complementary fit with our core business that
improves our offerings in microcontrollers, memory, programmable logic, opto
and LED products. The embedded computing and display solutions businesses
enhance our competencies in systems level solutions, thereby increasing our
value add with customers in these higher growth product segments. We are
excited about MSC Group and its talented employees as this represents another
step in our business evolution as we progress up the technology value chain
and provide additional services that our customers need.”

This transaction, which is subject to customary regulatory approvals, is
expected to be immediately accretive to earnings and supports Avnet's
long-term return on capital goal of 12.5 percent.

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, allocations of
products 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 globally. Avnet accelerates its partners' success
by connecting the world's leading technology suppliers with a broad base of
customers by providing cost-effective, value-added services and solutions. For
the fiscal year ended June 30, 2012, Avnet generated revenue of $25.7 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.

Contact:

Investor Relations Contact:
Avnet, Inc.
Vincent Keenan, 480-643-7053
Vice President, Investor Relations
vincent.keenan@avnet.com
or
Public Relations Contact:
Avnet Electronics Marketing EMEA
Georg Steinberger, +49 (0) 8121 774 203
Vice President, Communications
georg.steinberger@avnet.eu
or
Avnet, Inc.
Michelle Gorel, 480-643-7653
Vice President, Public Relations & Corporate Communications
michelle.gorel@avnet.com
 
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