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Bunzl closes 2015 with three further acquisitions
Bunzl is closing 2015 with three further acquisitions - this time in Chile, Spain and France; taking the number of businesses the distribution and outsourcing business has acquired this year to 21. Bunzl tells us it has a total committed acquisition spend of £320 million this year - a record level of spend for Bunzl in any one year.
The company's strong cash flow and balance sheet and the continuing promising pipeline of further acquisition opportunities should enable the Group to consolidate further, the markets in which it competes and continue to increase shareholder value.
The latest companies to come under Bunzl's umbrella are:
- Emilio Saray Y Compania Limitada, trading as DPS, a distributor of catering disposables and a variety of cleaning, safety and packaging products based in Santiago with a number of other locations throughout Chile. Customers include wholesalers and distributors as well as restaurants, supermarkets and other end users. Revenue in 2015 is expected to be CLP25.4bn (c.£24 million).
- Faru S.L. Based in Zaragoza, the business is engaged in the sale of personal protection equipment, including fall arrest and head protection products and safety shoes, to distributors throughout Spain. Revenue in 2015 is expected to be £5 million.
- Comatec SAS, based in Carcassonne, France, is engaged in the distribution of high-end, innovative single use tableware to restaurants and hotels throughout France but also exports products to a large number of distributors in a number of countries. Revenue in the year ended 31st December 2015 is expected to be £19 million.
"The purchase of DPS in Chile extends our business there into the foodservice and cleaning and hygiene sectors in a country where we have previously built a strong anchor position in the safety sector," explains Michael Roney, Bunzl's chief executive.
"Faru will complement our existing safety business in Spain by further enhancing our product offering.
"The acquisition of Comatec is a significant addition to our strong business in France and expands our operations into the foodservice sector where we are already a leader in many countries.
"We are pleased to welcome the employees of all three businesses to the Group."
T: 0207 725 5000
17th December 2015