Bunzl PLC Acquisition (5247B)
January 11 2018 - 1:00AM
UK Regulatory
TIDMBNZL
RNS Number : 5247B
Bunzl PLC
11 January 2018
11 January 2018
ACQUISITIONS IN THE US AND UK AND
PROPOSED SALE OF BUSINESS IN FRANCE
Bunzl plc, the international distribution and outsourcing Group,
today announces the acquisition of two further businesses in the US
and the UK and the proposed sale of a business in France.
Revco, which is based in California, is engaged in the design,
development and distribution of workplace safety and personal
protection equipment to redistributors selling into a variety of
end user markets, principally the welding and industrial sectors,
throughout the US. Revenue in the year ended December 2017 is
expected to be US$37 million.
During December the Company agreed to acquire the business of
the Aggora Group which is principally engaged in the design,
supply, installation and maintenance of commercial catering
equipment for end user customers throughout the UK. The acquisition
was completed in early January. Revenue in the year ended March
2017 was GBP27million.
Bunzl also announces that in December it received a binding
offer relating to the proposed sale of OPM in France. OPM was
originally acquired as part of Groupe Pierre Le Goff which was
purchased in 2004. It is a non-core business which has most
recently focused on the distribution and sale of SodaStream
products to retailers throughout France and the Company has decided
that it is now an appropriate time to sell the business. Revenue in
the year ended December 2017 was EUR57 million. Completion of the
transaction is subject to the conclusion of a consultation process
with OPM's works council and the subsequent entering into of a sale
and purchase agreement. Subject thereto, the transaction is
expected to complete in the first quarter of 2018.
Finally, the Company confirms that the acquisition of Talge,
which was announced on 23 November 2017, has been completed
following clearance of the transaction by the Brazilian competition
authority.
Commenting on the recent acquisitions, Frank van Zanten, Chief
Executive of Bunzl said:
"The acquisition of Revco represents a further development of
our safety business in the US with the business in particular
complementing and strengthening our existing presence in the
welding and industrial supplies market. The purchase of Aggora
Group has extended our catering equipment business in the UK."
Enquiries:
Bunzl plc Tulchan
Frank van Zanten, Chief David Allchurch
Executive Martin Robinson
Brian May, Finance Director Tel: +44 (0)20 7353 4200
Tel: +44 (0)20 7725 5000
This information is provided by RNS
The company news service from the London Stock Exchange
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