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Bunzl branches out further into Europe
Yesterday, Bunzl announced that it has entered into agreements to acquire two further businesses in Denmark and France.
Sæbe Compagniet, which is based near Copenhagen, is a distributor of cleaning & hygiene related products to a variety of end user customers, principally in the hotel, restaurant and catering sectors, in Denmark. Revenue in the year ended 30th April 2016 was DKK113 million (c.£13 million). Completion of the acquisition is subject to clearance of the transaction by the Danish competition authority.
Prorisk and GM Equipement, which are based near Lyon and in Vannes respectively, are principally engaged in the sale of a variety of personal protection equipment and first aid-related products to both end users and distributors throughout France. The aggregate revenue of the businesses in the year ended 31st December 2015 was €7 million. Completion of the acquisition is expected to take place by the end of January 2017.
"The proposed acquisition of Sæbe Compagniet will complement our existing cleaning & hygiene operations in Denmark and extend and expand our business there," explains Frank van Zanten, chief executive of Bunzl.
"The purchase of Prorisk and GM Equipement will add further scale to our safety business in France and increase the breadth of our product offering in this important market. We look forward to welcoming the businesses and their employees to the Group."
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24th November 2016