13th Jul 2007 07:00
Bunzl PLC13 July 2007 13 July 2007 BUNZL TO EXPAND IN THE BENELUX Bunzl plc, the international distribution and outsourcing Group, today announcesthat it has entered into an agreement to acquire King Benelux Holding BV fromErgon Capital Partners, its majority shareholder, and other private investors. Based in the Netherlands, King Benelux and its subsidiaries are principallyengaged in the distribution of products to the healthcare and contract cleaningsectors in the Netherlands and the foodservice, retail and healthcare sectors inBelgium. The existing management team will remain with the business. Pro forma revenue of King Benelux for the year ended 31 December 2006 (includingthe full year revenues for 2006 of companies it has acquired during 2006 and2007) was €125 million. Completion of the acquisition is subject to clearancefrom the relevant competition authority. The gross assets to be acquired areestimated to be €58 million. Commenting on the acquisition, Michael Roney, Chief Executive of Bunzl, said: "King Benelux is an important strategic acquisition since it will not onlyexpand our successful business in the Netherlands into the healthcare andcontract cleaning sectors but will also provide a significant business inBelgium where we do not currently have operations. I look forward to welcomingeach of the companies and their employees to Bunzl." Werner Meuleman, Managing Director of King Benelux, added: "We are very enthusiastic about joining Bunzl as we believe the combination withBunzl's business in the Benelux will enable us to provide a broader productrange and an even better service to our customers and more businessopportunities for our suppliers." Enquiries: Bunzl plc Tulchan Michael Roney, Chief Executive David Allchurch Brian May, Finance Director Stephen Malthouse Tel: 020 7495 4950 Tel: 020 7353 4200 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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