Acquisition

RNS Number : 5075C

Bunzl PLC

02 May 2012

 



2 May 2012

BUNZL COMPLETES THREE FURTHER ACQUISITIONS

Bunzl plc, the international distribution and outsourcing Group, today announces that it has completed three further acquisitions in the United States, Israel and Australia.

The Company has acquired FoodHandler Inc. from Barriersafe Solutions International, Inc.  Based in Chicago, FoodHandler is a leading supplier of a variety of disposable gloves and other foodhandling products to the foodservice sector throughout the US.  Revenue in the year ended 31 December 2011 was $99.4 million and the gross assets acquired are estimated to be $41 million.

Bunzl has also acquired the business of Meichaley Zahav Limited in Israel.  Based near Tel Aviv, Zahav is a leading distributor of packaging supplies to the foodservice sector throughout Israel.  Revenue in the year ended 31 December 2011 was ILS66.3 million and the gross assets acquired are estimated to be ILS31 million.

Finally, the Company has purchased the Queensland based redistribution operations of Star Services International Pty Limited in Australia.  Based in Brisbane and Cairns, the business is engaged in the supply of foodservice disposable products to wholesalers and redistributors throughout Queensland.  Revenue for the year ending 30 June 2012 is expected to be A$12 million and the gross assets acquired are estimated to be A$2.5 million.

Commenting on the acquisitions, Michael Roney, Chief Executive of Bunzl, said:

"FoodHandler has a leading position in the provision of products relating to food safety and an excellent reputation for quality, innovation and customer service.  The business will complement our existing foodservice operations and expands our product offering and import programme in this sector.

Zahav is our second acquisition in Israel which is a market we entered in 2010 with the purchase of Silco.  It is an excellent business with a strong customer base and significantly increases the size of our business in the region.

The acquisition of the Star Services redistribution business is an excellent addition to our existing foodservice supplies operations in Queensland and will allow us to penetrate further into the redistribution sector of this market.

We are pleased to welcome all of their employees to Bunzl."

Enquiries:

Bunzl plc Michael Roney, Chief Executive Brian May, Finance Director Tel: [phone]

Tulchan David Allchurch Stephen Malthouse Tel: [phone]

 

END

 

 

ACQABMITMBJMBJT