Tekcapital (TEK), Canada Nickel (CNC) and Goldplat (GDP) will be joining us at our May Investor Webinar on Tuesday 24th. Please register here

Less Ads, More Data, More Tools Register for FREE

Bunzl acquires US protective clothing firm Tingley Rubber

Wed, 12th Jan 2022 08:46

(Alliance News) - Bunzl PLC on Wednesday said it has acquired Tingley Rubber Corp to further extend its North American safety offering.

The London-based distribution and services company said it completed the acquisition of the New Jersey-based protective footwear and apparel firm in late December.

Tingley generated revenue of USD68 million in 2021, Bunzl said, but it didn't disclose the price it paid.

"I am pleased to announce the acquisition of Tingley which will further enhance our North American safety offering with its innovative brand portfolio and represents our 14th acquisition completed in 2021," Chief Executive Frank van Zanten commented.

"The group's committed spend over 2020 and 2021 combined was approximately GBP950 million, making the last two years one of the most successful periods in our history for acquisitions. Our pipeline remains active, supported by the strength of our balance sheet."

Bunzl shares were up 0.8% at 2,745.00 pence each on Wednesday morning in London.

By Abby Amoakuh; abbyamoakuh@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

Related Shares

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.