23rd Oct 2018 08:10
LONDON (Alliance News) - Bunzl PLC on Tuesday said it will acquire Brazilian personal protection equipment distributor Volk do Brasil, and is trading in line with expectations.
International distributor Bunzl did not disclose the value of the acquisition but did note that Volk do Brasil is forecast to achieve revenue of BRL200 million, approximately equivalent to GBP41 million.
Volk do Brasil primarily supplies gloves. The acquisition is currently awaiting clearance from 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 Bunzl Chief Executive Frank van Zanten.
Bunzl also said its own performance thus far has been consistent with its August expectations. Revenue for its third quarter grew 7% on year at constant exchange rates due to organic growth of roughly 4% and a further acquisition impact of approximately 3%, net of disposals.
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