Acquisition (5075C)
02 May 2012 - 4:00PM
UK Regulatory
TIDMBNZL
RNS Number : 5075C
Bunzl PLC
02 May 2012
2 May 2012
BUNZL COMPLETES THREE FURTHER ACQUISITIONS
Bunzl plc, the international distribution and outsourcing Group,
today announces that it has completed three further acquisitions in
the United States, Israel and Australia.
The Company has acquired FoodHandler Inc. from Barriersafe
Solutions International, Inc. Based in Chicago, FoodHandler is a
leading supplier of a variety of disposable gloves and other
foodhandling products to the foodservice sector throughout the US.
Revenue in the year ended 31 December 2011 was $99.4 million and
the gross assets acquired are estimated to be $41 million.
Bunzl has also acquired the business of Meichaley Zahav Limited
in Israel. Based near Tel Aviv, Zahav is a leading distributor of
packaging supplies to the foodservice sector throughout Israel.
Revenue in the year ended 31 December 2011 was ILS66.3 million and
the gross assets acquired are estimated to be ILS31 million.
Finally, the Company has purchased the Queensland based
redistribution operations of Star Services International Pty
Limited in Australia. Based in Brisbane and Cairns, the business is
engaged in the supply of foodservice disposable products to
wholesalers and redistributors throughout Queensland. Revenue for
the year ending 30 June 2012 is expected to be A$12 million and the
gross assets acquired are estimated to be A$2.5 million.
Commenting on the acquisitions, Michael Roney, Chief Executive
of Bunzl, said:
"FoodHandler has a leading position in the provision of products
relating to food safety and an excellent reputation for quality,
innovation and customer service. The business will complement our
existing foodservice operations and expands our product offering
and import programme in this sector.
Zahav is our second acquisition in Israel which is a market we
entered in 2010 with the purchase of Silco. It is an excellent
business with a strong customer base and significantly increases
the size of our business in the region.
The acquisition of the Star Services redistribution business is
an excellent addition to our existing foodservice supplies
operations in Queensland and will allow us to penetrate further
into the redistribution sector of this market.
We are pleased to welcome all of their employees to Bunzl."
Enquiries:
Bunzl plc Tulchan
Michael Roney, Chief Executive David Allchurch
Brian May, Finance Director Stephen Malthouse
Tel: 020 7725 5000 Tel: 020 7353 4200
This information is provided by RNS
The company news service from the London Stock Exchange
END
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