(Alliance News) - Bunzl PLC on Tuesday said it has bought three businesses and signed an agreement to acquire a further business across a range of sectors in Spain, Brazil, the Netherlands and Canada.
In June, the London-based distribution services company acquired La Cartuja Complementos Hosteleria. La Cartuja is a distributor of food service and hospitality equipment in Spain.
It said that this business will expand its product offering. Further, it generated revenue of EUR5 million in 2022.
In July, Bunzl signed an agreement to acquire Grupo Lanlimp, a distributor of cleaning and hygiene products in Brazil. In 2022, the company generated revenue of GBP33 million in 2022.
Bunzl said Grupo Lanlimp will strengthen its position in "this fragmented market." It noted that completion of the acquisition is subject to competition authority clearance.
In August, Bunzl acquired Groveko, a distributor of cleaning and hygiene products based in the Netherlands. The business generated EUR23 million of revenue in 2022.
"As well as its traditional product offering, the business is the market leading provider of robotic and smart cleaning solutions in Benelux, developing our offering in this growing product category," Bunzl said.
Also in August, Bunzl bought PackPro, a provider of packaging solutions to a diverse customer base, including food processor and industrial customers in Canada.
The business is complementary to Bunzl's existing businesses and increases our geographic coverage for industrial customers in Canada, it said. In 2022 the business generated revenue of CAD33 million.
Finally, Bunzl confirmed that it has now completed the acquisition of Leal Equipamentos de Protecao, a specialised safety distributor in Brazil, for an undisclosed sum. The acquisition was announced in May.
Chief Executive Frank van Zanten said: "It is very exciting to see the broad range of sectors and end markets represented. This truly demonstrates the great breadth of opportunities that we have around the world for continued acquisition growth through consolidation of our fragmented markets and geographic expansion. Our pipeline remains active and the strength of our balance sheet supports our ability to continue investing in the significant opportunities that we see."
By Sophie Rose, Alliance News reporter
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Bunzl (BNZL)