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Good results and another acquisition for Bunzl
Bunzl has this week announced its trading statement for the period since 30 June 2018, along with another acquisition.
The company says that overall performance is consistent with expectations at the time of the half year results announcement in August. Group revenue for the third quarter increased by 7% at constant exchange rates due to organic growth of approximately 4% and an impact from acquisitions, net of disposals, of approximately 3%.
The acquisition involves Volk do Brasil - is a leading distributor of personal protection equipment, based in Parana, Brazil. Principally engaged in the supply of a broad range of gloves to redistributors and end users operating in a variety of market sectors, the business is forecast to achieve revenue in 2018 of R$200 million (c.£41 million).
Completion of the acquisition is subject to clearance of the transaction by the Brazilian competition authority.
"The proposed purchase of Volk do Brasil will expand our already well established safety business in Brazil and will complement and strengthen our product offering in the safety sector," said Frank van Zanten, chief executive of Bunzl. "We look forward to welcoming their employees to the Group."
25th October 2018