(Alliance News) - Distribution and services firm Bunzl PLC on Tuesday announced the acquisition of Obex Medical Holdings, a medical distribution business based in New Zealand.
The completion of the purchase of Auckland-based Obex is expected to take place at the beginning of June for an undisclosed sum.
Bunzl Chief Executive Frank van Zanten commented: "I am pleased to be able to announce our fourth acquisition of 2021. Obex Medical Holdings is a strong business with an experienced management team that will complement and enhance Bunzl's healthcare capabilities in Australasia. The group's acquisition pipeline remains active and a number of discussions are ongoing."
Obex supplies a range of healthcare equipment and devices and posted revenue in 2020 of NZD51 million, around GBP27 million.
Shares in Bunzl were 0.2% higher in London on Tuesday at 2,325.00 pence each.
By Will Paige; willpaige@alliancenews.com
Copyright 2021 Alliance News Limited. All Rights Reserved.
Bunzl (BNZL)