REG - Bunzl PLC - Acquisition

BunzlAnnouncement

02/08/2022 07:00

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RNS Number : 5238U  Bunzl PLC  02 August 2022

02 August 2022

 

 

BUNZL ACQUIRES BUSINESSES IN THE NETHERLANDS, BRAZIL, AUSTRALIA AND THE UK

 

Bunzl plc, the specialist international distribution and services Group, today
announces that it has entered into agreements to acquire four businesses.

 

On 1 August, the Group completed the acquisition of Containit, a fast-growing
distributor of warehouse storage solutions to the resources and defence
sectors in Australia. The expansion into warehouse solutions complements
Bunzl's existing offering in the Australian safety market, further
strengthening our position there. The business generated revenue in 2021 of
AUD 17 million (c.£9 million).

 

In July, Bunzl entered into an agreement to acquire Corsul Group ("Corsul"), a
leading distributor of personal protective equipment (PPE) to end users in
Brazil, with a strong presence in the South of Brazil. In 2021 Corsul
generated revenue of BRL 260 million (c.£35 million). Completion of the
acquisition is subject to competition authority clearance.

 

Bunzl completed the acquisition of AFL Groep ("AFL") in July, a distributor of
logistics and warehouse related supplies to customers in the Benelux. In 2021,
AFL generated EUR 19 million (c.£16 million) of revenue. The acquisition
increases Bunzl's exposure to these attractive end markets, and its strong
online capabilities enhance Bunzl's digital presence.

 

In July, Bunzl also completed the acquisition of London Catering & Hygiene
Solutions ("LCHS"), a distributor of catering supplies and cleaning and
hygiene products in the UK, which complements our existing business, and
generated £5 million of revenue in the 12 months to May 2022.

 

We are also pleased that the Group has completed the previously announced
acquisition of Hygi.de, a leading and fast-growing online distributor of
cleaning and hygiene products in Germany.

 

Commenting on the acquisitions, Frank van Zanten, Chief Executive Officer of
Bunzl, said:

 

"I am delighted to be welcoming these four businesses to the Bunzl family. Our
acquisition of Containit allows us to expand into an attractive adjacent
market, whilst the acquisition of Corsul will allow Bunzl to develop its
operations in the Southern Brazilian PPE market. AFL drives our continued
expansion into the attractive logistics sectors in Benelux and, at the same
time, increases our digital footprint. Furthermore, the acquisition of LCHS
supports our UK business by growing our presence in the South of the UK.

 

In total we have announced six acquisitions year-to-date, with a total
committed acquisition spend of more than £220 million. The Group's strong
balance sheet continues to support our compounding growth strategy, with our
acquisition pipeline remaining active."

 

 

Enquiries:

 

 Bunzl plc                                     Tulchan

 Frank van Zanten, Chief Executive Officer     Martin Robinson

 Richard Howes, Chief Financial Officer        Olivia Peters

 Sunita Entwisle, Head of Investor Relations   Tel: +44 (0)20 7353 4200

 Tel: +44 (0)20 7725 5000

 

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