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Bunzl buys businesses to expand product offering in Spain, Netherlands

11th Jul 2024 10:47

(Alliance News) - Bunzl PLC on Thursday announced it completed its previously announced acquisition of a distributor of surgical and medical devices in Brazil, while it bought two new companies.

The London-based distribution and services provider said it bought Sistemas De Embalaje Anper in June. Sistemas is a distributor of industrial packaging to end-users in Spain and had a revenue of EUR28 million in 2023.

Further, Bunzl bought Holland Packaging, which distributes customised packaging products and supplies to e-commerce focused companies in the Netherlands. It had a revenue of EUR16 million in 2023.

Bunzl added that it completed the previously announced acquisition of RCL Implantes, a distributor that specialises in surgical and medical devices in Brazil. In June, Bunzl had said that RCL had a revenue of BRL112 million, around GBP18 million, in 2023.

Bunzl Chief Executive Officer Frank van Zanten said: "Today's announcement highlights the strength of Bunzl's continuing consolidation opportunity. The announced acquisitions are highly complementary to our existing businesses, expanding our product offering in Spain and the Netherlands, and have strong margins."

He added: "Our pipeline remains active and the strength of our balance sheet supports our ability to continue to self-fund value-accretive acquisitions alongside other capital allocation options."

Bunzl shares were 0.5% higher at 3,175.54 pence each on Thursday morning in London.

By Tom Budszus, Alliance News slot editor

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