Bunzl PLC Acquisition (5167K)
August 29 2023 - 1:00AM
UK Regulatory
TIDMBNZL
RNS Number : 5167K
Bunzl PLC
29 August 2023
29 August 2023
BUNZL ANNOUNCES FIRST ACQUISITION IN POLAND AND AN ACQUISITION
IN THE NETHERLANDS
Bunzl plc, the specialist international distribution and
services Group, today announces that it has signed an agreement to
acquire a business in Poland, and also acquired a business in the
Netherlands. The acquisition in Poland is the Group's first in the
country and, upon completion, will increase the number of countries
that Bunzl operates in to 32.
In July, Bunzl signed an agreement to acquire Safety First, one
of the largest distributors of Personal Protective Equipment
products in Poland to a range of end markets. This is Bunzl's
anchor acquisition in Poland, achieving our first entry into the
country, which has been a key target for expansion. Safety First
generated PLN 121 million (c.GBP22 million) of revenue in 2022.
Completion of the acquisition is subject to competition authority
clearance.
Also in July, Bunzl acquired EcoTools.nl, a Netherlands based
specialist online distributor of tool accessories and industrial
consumables to customers across the Benelux region. In 2022, this
high growth business generated revenue of EUR 20 million (c.GBP17
million) with very high double digit margins. The acquisition
increases the Group's exposure to fast-growing, specialist online
distributors.
Commenting on today's announcement, Frank van Zanten, Chief
Executive Officer of Bunzl, said:
"I am pleased to announce two more additions to the Bunzl family
today, taking our total to twelve acquisitions announced so far
this year. I am particularly pleased that the acquisition of Safety
First will be Bunzl's first in Poland, increasing the total number
of countries that we operate in to 32. EcoTools is a fast-growing
online distributor, which complements other online-focused
businesses within our portfolio and further strengthens the Group's
digital capabilities.
Our acquisition momentum has been strong this year and our total
committed spend year-to-date is now more than GBP350 million. We
have significant headroom to continue to self-fund value-accretive
acquisitions and our pipeline remains active."
Enquiries:
Bunzl plc Teneo
Frank van Zanten, Chief Executive Martin Robinson
Officer Olivia Peters
Richard Howes, Chief Financial Tel: +44 (0)20 7353 4200
Officer
Sunita Entwisle, Head of Investor
Relations
Tel: +44 (0)20 7725 5000
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
ACQPAMATMTMTBFJ
(END) Dow Jones Newswires
August 29, 2023 02:00 ET (06:00 GMT)
Bunzl (LSE:BNZL)
Historical Stock Chart
From Mar 2024 to Apr 2024
Bunzl (LSE:BNZL)
Historical Stock Chart
From Apr 2023 to Apr 2024