14th Jun 2022 09:03
(Alliance News) - Bunzl PLC on Tuesday said it has agreed to buy a cleaning and hygiene business in Germany and completed the acquisition of a healthcare consumables business in New Zealand.
The London-based distribution and services firm said the acquisition with Hygi.de, an online distributor of cleaning and hygiene products in Germany, will increase Bunzl's presence in the German market. It said Hygi generated revenue in 2021 of EUR107 million.
The FTSE 100 firm also said the acquisition of USL, a New Zealand distributor of medical consumables to the healthcare sector, was completed earlier this month. It said the acquisition further complements Bunzl's growing presence in New Zealand and the healthcare sector across the region. USL produced revenue in 2021 of NZD114 million, about USD71.6 million.
Bunzl Chief Executive Officer Frank van Zanten said: "I am truly excited about the acquisition of the successful online distributor Hygi, as this marks a significant step in the development of our business in Germany, a market which has the potential to be more sizeable for Bunzl. Furthermore, acquiring USL increases Bunzl's position in the growing and attractive healthcare consumables market in New Zealand. These acquisitions highlight Bunzl's continued consolidation opportunity, which is supported by the strength of our balance sheet and an active pipeline."
The group did not provide the price of either acquisition.
Bunzl shares were up 0.6% at 2,662.00 pence each on Tuesday morning in London.
By Xindi Wei; [email protected]
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