Bunzl plc, the international distribution and outsourcing Group, has announced the acquisition of two further businesses in the US and the UK, and the proposed sale of a business in France.
Bunzl has acquired California based, Revco, that 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, throughout the US.
During December, the company also 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 £27million.
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.”
Also in December, Bunzl 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. 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.
On 23rd November 2017, Bunzl announced that it was to acquire Talge. The company has now confirmed that this has been completed, following clearance of the transaction by the Brazilian competition authority.