Premier Farnell Announces Major Investment in Inventory Plus New suppliers to Add Depth and Breadth to Product Offering

Investment provides Newark element14 customers with even greater access to the latest new product introductions and established offerings

Chicago, May 15, 2018 – Premier Farnell, the Development Distributor, has announced a substantial investment in product inventory as well as the addition of a number of new suppliers to its product offering. The result is a major expansion in both the breadth and depth of the distributor’s line card over the past year, giving customers even more confidence to come to Newark element14 for the products they need, when they need them.

Over the past 12 months, the company has invested almost $100M in additional inventory, from $350M in stock a year ago to $444M today, increasing availability of in-demand products and the latest new product introductions. This represents an additional 77,000 new SKUs (product identification codes) added during the year.

To complement this investment in stock, a number of new franchises have been added to the Premier Farnell product offering. These include key new suppliers such as Xilinx, Nordic Semiconductor and Arduino, which add greater choice for customers. Additions cross the entire range of product categories distributed by Newark element14, from Semiconductors, Interconnect, Passive and Electro-mechanical, Single Board Computing; to Test and Tools where Newark element14 leads the market for high service distribution.

Chris Breslin, SVP Product for Premier Farnell and Newark element14 said: “The significant investment made in inventory and supplier relationships means that customers can count, more than ever, on Newark element14 to provide the products they need, when they need them. As the Development Distributor, it is our aim to be there when it matters, and we are delighted to be able to do so, every day, for our many customers across North America.”

Premier Farnell operates as Farnell element14 in Europe, Newark element14 in North America and element14 in Asia Pacific.

Ends

Notes to editors

Full details of suppliers added to the Newark element14 linecard are:

Semiconductors

IP&E (Interconnect, Passive & Electromechanical)

Single-board computers

Test and tools

You can find more details and supporting imagery related to this press release on our newsroom: www.element14.com/news

About us

Premier Farnell is a global technology leader with over 80 years in the high service distribution of technology products and solutions for electronic system design, production, maintenance and repair. Premier Farnell uses this experience to support its broad customer base, from hobbyists to engineers, maintenance engineers and buyers as ‘The Development Distributor’, working with leading brands and start-ups to develop new products for market, and supporting the industry as it seeks to develop the current and next generation of engineers.

Premier Farnell is a business unit of Avnet, Inc., (NYSE:AVT). Premier Farnell trades as Farnell element14 in Europe, Newark element14 in North America, and element14 throughout Asia Pacific. Premier Farnell also sells direct to consumers through a network of resellers, as well as its CPC business in the UK.

For more information, visit the website at http://www.premierfarnell.com

Contacts for journalists:

North America Agency Brodeur Partners Jamie Ernst Tel: (+1) 480.308.0286 Email: jernst@brodeur.com

Premier Farnell Holly Smart, Head of PR and External Communications Tel: +44 113 3485188 Email: hsmart@premierfarnell.com