Bunzl PLC on Tuesday said it has agreed to buy safety businesses in Brazil and Spain, reaching milestone of 200 acquisitions announced since 2004.
The distribution services company signed an agreement this month to buy Leal Equipamentos de Protecao, a specialised safety distributor in Brazil, for an undisclosed sum.
The business produced revenue of about £34 million in 2022 and complements Bunzl’s own portfolio of safety businesses in Brazil, the London-based company said.
In April, Bunzl acquired Irudek, a distributor of safety and personal protective equipment, specialising in fall protection equipment in Spain. This business made revenue of €17 million in 2022.
Bunzl said it has reached a ‘significant milestone’, making 200 acquisitions since 2004.
Chief Executive Officer Frank van Zanten said: ‘I am very pleased to welcome these two businesses to the Bunzl family, both of which expand our offering within the safety sector, have strong own brand portfolios, and are margin accretive to the group. Leal meaningfully increases our exposure to the attractive industrial sector in Brazil, whilst Irudek broadens our specialism in Spain to include fall protection.’
Shares were down 0.6% at 3,171.00 pence each on Tuesday morning in London.
Copyright 2023 Alliance News Ltd. All Rights Reserved.
