Bunzl announces acquisition of four new businesses

23rd Jun 2015 07:04

Distribution company Bunzl on Tuesday announced that it has acquired four businesses in the US, Colombia, Canada and France.The FTSE 100 group has agreed to buy International Sourcing Company, which sells a variety of personal protection equipment, principally gloves, to distributors throughout the US. Its revenue in the year ended 30 September 2014 was around £51m.It has also signed a deal to purchase Importadores Exportadores Solmaq SAS, which supplies a complete range of head to toe personal protection equipment and other welding and industrial consumables to distributors, retailers and end users throughout Colombia from a network of six facilities. Revenue in the year ended 31 December 2014 totalled approximately £14m.The acquisitions are both expected to be completed at the end of June.Bunzl has completed a deal to buy GF, a Canadian distributor of industrial packaging, warehouse supplies and equipment that has a large and diverse base of end user customers in western Canada serviced from 11 facilities. Revenue in the year ended 31 December 2014 was in the region of £42m. The group also acquired Ligne T SAS, a distributor of personal protection equipment, principally workwear, based in France. The business, which generated revenue of around £4m in the year ended August 2014, supplies a variety of end user customers throughout the south west region of France. Bunzl chief executive Michael Roney said: "The acquisition of Cordova Safety Products, Solmaq and Ligne T each represent an extension of our existing safety businesses in the US, Colombia and France as we continue to look to expand and develop our operations in this important sector."The purchase of GF is the sixth acquisition we have made in Canada since 2013 as a result of which we have developed a national business in Canada with annual revenue in excess of C$700m."