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(Alliance News) - Bunzl PLC on Tuesday announced it has continued to expand internationally and domestically, with four new acquisitions.
The London-based distribution firm completed the acquisition of the Australian company Containit, which is a distributor of warehouse storage solutions to the resources and defence sectors in Australia. It generated AUD17 million, around GBP9 million, in revenue in 2021.
"The expansion into warehouse solutions complements Bunzl's existing offering in the Australian safety market, further strengthening our position there," the firm said.
It also agreed to acquire Corsul Group a distributor of personal protective equipment to end users in Brazil, which brought in BRL260 million, about GBP35 million, last year.
Bunzl completed the acquisition of AFL Groep in July, which is a distributor of logistics and warehouse supplies to Benelux customers, which generated annual revenue of EUR19 million, GBP16 million, in 2021.
It also completed the acquisition of catering, cleaning and hygiene product distributor London Catering & Hygiene Solutions
"The acquisition of Corsul will allow Bunzl to develop its operations in the Southern Brazilian PPE market. AFL drives our continued expansion into the attractive logistics sectors in Benelux and, at the same time, increases our digital footprint. Furthermore, the acquisition of LCHS supports our UK business by growing our presence in the south of the UK," explained Chief Executive Officer Frank van Zanten.
Shares in Bunzl were up 0.5% to 3,084.00 pence each in London on Tuesday morning.
Bunzl did not provide financial details of the acquisitions, but noted it has a "total committed acquisition spend of more than GBP220 million".
It also noted it has completed the previously announced acquisition of Hygi.de, an online distributor of cleaning and hygiene products in Germany.
By Elizabeth Winter; elizabethwinter@alliancenews.com
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