29th Jul 2005 12:16
Bunzl PLC29 July 2005 29 July 2005 BUNZL ACQUIRES SANICARE IN AUSTRALASIA Bunzl plc, the international distribution and outsourcing Group, today announcesthat it has acquired Sanicare Pty Limited. Based in New South Wales, Sanicaresupplies disposable products principally into the healthcare sector acrossAustralia and New Zealand. Sales were A$21.5 million in the year ended April2005. The company has been acquired from Institutions Holdings A/S in Denmark andSanicare's management. The existing management team will remain with thebusiness. Institutions Holdings A/S is a wholly owned subsidiary of AbenaHoldings A/S, a Danish based manufacturer of incontinence products andassociated nursing items distributed by Sanicare. The consideration payable is a maximum of A$14.75 million for the share capitalplus a maximum of A$3.15 million in respect of intercompany debt to bedischarged. This is to be satisfied by the issue to Institutions Holdings A/S of 492,966 ordinary shares of 32 1/7p of Bunzl plc with the balance of theconsideration being settled in cash. Application has been made to the United Kingdom Listing Authority for thelisting of 492,966 ordinary shares of 32 1/7p of Bunzl plc to be allotted insatisfaction of the relevant part of the consideration now payable. These shareswill rank pari passu with the existing ordinary shares of Bunzl plc. Commenting on the acquisition, Anthony Habgood, Chairman of Bunzl, said: "Sanicare is an excellent addition to our successful and growing business inAustralasia. It expands our position in the market and extends our productoffering into the growing healthcare sector." Enquiries: Bunzl plc FinsburyAnthony Habgood, Chairman Roland RuddDavid Williams, Finance Director Morgan BoneTel: 020 7495 4950 Tel: 020 7251 3801 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Bunzl