Bunzl PLC Acquisition (2058V)
January 10 2013 - 1:00AM
UK Regulatory
TIDMBNZL
RNS Number : 2058V
Bunzl PLC
10 January 2013
10 January 2013
BUNZL COMPLETES THREE FURTHER ACQUISITIONS
Bunzl plc, the international distribution and outsourcing Group,
today announces that it has completed three further acquisitions in
South America and the US.
The Company has acquired Vicsa Safety SA in Chile and its
subsidiaries based in Peru, Argentina, Colombia and Mexico. The
businesses specialise in the sourcing and sale of a variety of
personal protection equipment throughout the region. The aggregate
revenue of the Vicsa businesses in the year ended 31 December 2011
was US$51 million and is expected to be approximately US$60 million
in 2012. The business in Chile accounts for more than half of the
total revenue.
Bunzl has also acquired Schwarz Paper Company, LLC in the US.
Based in Chicago and operating from 14 locations, Schwarz Paper
Company is principally engaged in the provision of consumables and
supply chain solutions for the non-food retail and grocery sectors.
Revenue of the acquired business in the year ended 30 September
2012 was US$363 million.
Finally, the Company has purchased Destiny Packaging, Inc, also
in the US. Based in Monterey, California, Destiny Packaging is a
leading distributor of flexible packaging supplies, principally
produce bags, to fruit and vegetable growers throughout California
and Arizona. Revenue in the year ended 31 December 2011 was US$45
million and is expected to be approximately US$50 million in
2012.
Commenting on the acquisitions, Michael Roney, Chief Executive
of Bunzl, said:
"The acquisition of the Vicsa group of companies is an exciting
development for us as it represents our first acquisition in South
America outside of Brazil and provides Bunzl with a first entry
into five high growth safety markets. The business has a quality
own brand range of products which will expand and strengthen the
Company's product offering in this market sector.
The purchase of Schwarz Paper Company and Destiny Packaging are
also important acquisitions for Bunzl. Schwarz Paper Company
significantly increases the size of our non-food retail business
and will further enhance the Company's market leading position in
the grocery sector. Destiny Packaging complements both Cool-Pak and
Netpak which we acquired in 2010 and 2011 respectively. Together
these three businesses give us an increasing presence in the market
of innovative packaging solutions for both growers and food
retailers in North America.
We are delighted to welcome all employees of each of the
businesses to Bunzl.
Including the acquisitions announced today, the Company's total
acquisition spend for 2012 is approximately GBP270 million adding
aggregate annualised revenue of over GBP500 million."
Enquiries:
Bunzl plc Tulchan
Michael Roney, Chief Executive David Allchurch
Brian May, Finance Director Stephen Malthouse
Tel: 020 7725 5000 Tel: 020 7353 4200
This information is provided by RNS
The company news service from the London Stock Exchange
END
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