Bunzl completes further acquisitions in Spain, the UK and Australia
Bunzl completes further acquisitions in Spain, the UK and Australia
01 Jun 2011
Bunzl plc, the international distribution and outsourcing Group, today announces that it has completed three further acquisitions.
The Company has acquired King Espana Complementos SL from Javier Matesanz, Marc Lleonart, Alfonso Fernandez and Bitterfontein BV. Operating from three facilities in Barcelona, Madrid and Valencia, King Espana is a leading distributor of foodservice disposables and cleaning and hygiene supplies to the catering and cleaning sectors throughout Spain. Revenue in the year ended 31 December 2010 was €29 million and the gross assets acquired are estimated to be €13 million.
The Company has also acquired the SIG Safety and Workwear business in the UK from SIG Trading Limited, a subsidiary of SIG plc. Based in Wednesbury in the West Midlands, SIG Safety and Workwear is a leading distributor of personal protection equipment and workwear to a variety of market sectors throughout the UK. Revenue in the year ended 31 December 2010 was £22 million and the gross assets acquired are estimated to be £8 million.
Finally, Bunzl has purchased the Hospitality Depot business in Australia from Spacebud Pty Limited. Based in Sydney, Hospitality Depot is principally engaged in the distribution of catering equipment and supplies to hotels, restaurants and caterers as well as to aged care facilities and education establishments in New South Wales, Australia. Revenue for the year ending 30 June 2011 is forecast to be A$21 million and the gross assets acquired are estimated to be A$6 million.
Commenting on the acquisitions, Michael Roney, Chief Executive of Bunzl, said:
"We are delighted to have acquired these three businesses which are all well established with excellent customer bases. King Espana will expand our operations in Spain, reinforce our business in Barcelona and establish a presence for Bunzl in Madrid and Valencia while SIG Safety and Workwear will complement our existing personal protection equipment and workwear operations in the UK. Hospitality Depot is an excellent addition to our catering equipment and supplies business in Australia which has recently also been expanded by the acquisition of Omega in March. Each of these acquisitions will further strengthen our positions in their respective markets. We welcome all of their employees to the Group".
