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Bunzl completes further acquisitions in Spain, the UK and Australia
Yesterday, Bunzl, the international distribution and outsourcing group, announced that it has completed three further acquisitions.
The company has acquired King Espana Complementos from Javier Matesanz, Marc Lleonart, Alfonso Fernandez and Bitterfontein BV. Operating from three facilities in Barcelona, Madrid and Valencia, King Espana is a leading distributor of foodservice disposables and cleaning and hygiene supplies to the catering and cleaning sectors throughout Spain. Revenue in the year ended 31st December 2010 was €29 million and the gross assets acquired are estimated to be €13 million.
The company has also acquired the SIG Safety and Workwear business in the UK from SIG Trading, a subsidiary of SIG. Based in Wednesbury in the West Midlands, SIG Safety and Workwear is a leading distributor of personal protection equipment and workwear to a variety of market sectors throughout the UK. Revenue in the year ended 31st December 2010 was £22 million and the gross assets acquired are estimated to be £8 million.
Finally, Bunzl has purchased the Hospitality Depot business in Australia from Spacebud Pty. Based in Sydney, Hospitality Depot is principally engaged in the distribution of catering equipment and supplies to hotels, restaurants and caterers as well as to aged care facilities and education establishments in New South Wales, Australia. Revenue for the year ending 30th June 2011 is forecast to be A$21 million and the gross assets acquired are estimated to be A$6 million.
"We are delighted to have acquired these three businesses which are all well established with excellent customer bases," says Michael Roney, Chief Executive of Bunzl.
"King Espana will expand our operations in Spain, reinforce our business in Barcelona and establish a presence for Bunzl in Madrid and Valencia, while SIG Safety and Workwear will complement our existing personal protection equipment and workwear operations in the UK.
"Hospitality Depot is an excellent addition to our catering equipment and supplies business in Australia which has recently also been expanded by the acquisition of Omega in March. Each of these acquisitions will further strengthen our positions in their respective markets. We welcome all of their employees to the Group."
T: 020 7725 5000
2nd June 2011