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Share Price: 2,950.00

Bid: 2,972.00

Ask: 2,378.00

Change: -22.00 (-0.74%)

Spread: -594.00 (-19.987%)

Open: 0.00

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Prev. Close: 2,972.00

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Bunzl Acquires Joshen Paper & Packaging For Undisclosed Sum

Thu, 09th Jan 2020 08:00

(Alliance News) - FTSE 100 distribution firm Bunzl PLC said Thursday it has acquired US grocery-focused packaging firm Joshen Paper & Packaging Co Inc for an undisclosed sum.

Joshen is based in Cleveland, Ohio, and is expected to make revenue of GBP225 million in 2020. Bunzl said it expects to realise a number of synergies over the next few years.

"The purchase of Joshen has increased our presence in the grocery sector and further enhanced our operations in the US. We are pleased to welcome their employees to Bunzl," said Chief Executive Officer Frank van Zanten.

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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