Bunzl in acquisition spree

26th Sep 2011 07:03

Outsourcing and distribution group Bunzl has secured two further acquisitions and announced the completion of the acquisition of Majestic Products.The company has purchased Ideal Global Sistemas de Higiene, a supplier of cleaning and hygiene consumable products in Brazil. Revenue in the year ended 31 December 2010 was R$41.9m and the gross assets acquired are estimated to be R$11m.The firm has also acquired D-Care BV, a business principally engaged in the distribution of medical disposable products to hospitals and other healthcare customers throughout the Netherlands. Revenue in the year ended 31 December 2010 was €4.7m and the gross assets acquired are estimated to be €2m.The firm has also completed the acquisition of Majestic Products and its associated companies following clearance of the transaction by the competition authority in the Netherlands.Bunzl's chief executive Michael Roney said: "The acquisition of Ideal is our third acquisition in the Brazilian market, which we entered in 2008 through the acquisition of Prot Cap, and is an important step for Bunzl as it expands our business there into the cleaning and hygiene sector for the first time. "It has a market leading position and an excellent customer base which will provide a platform for us to develop a strong presence in this sector in Brazil."NR