Bunzl Regulatory News (BNZL)

15 August 2023

BUNZL ANNOUNCES ACQUISITIONS IN SPAIN, BRAZIL, THE NETHERLANDS AND CANADA

Bunzl plc, the specialist international distribution and services Group, today announces that it has acquired 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, Bunzl acquired La Cartuja Complementos Hostelería, a distributor of foodservice and hospitality equipment in Spain. This business, which expands our product offering in these sectors, generated revenue of EUR 5 million (c.£4 million) in 2022.

In July, Bunzl signed an agreement to acquire Grupo Lanlimp, a market leading distributor of cleaning and hygiene products in Brazil. The business generated revenue of BRL 210 million (c.£33 million) in 2022 and strengthens our position in this fragmented market. 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 EUR 23 million (c.£20 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.

In August, Bunzl acquired PackPro, a provider of packaging solutions to a diverse customer base, including food processor and industrial customers in Canada. The business is complementary to our existing businesses and increases our geographic coverage for industrial customers in Canada. In 2022 the business generated revenue of CAD 33 million (c.£20 million).

Finally, further to the announcement on 30 May 2023, the Company also confirms that it has now completed the acquisition of Leal Equipamentos de Proteção, a specialised safety distributor in Brazil with a strong own brand portfolio and revenue of BRL 216 million (c.£34 million) in 2022.

Commenting on today's announcement, Frank van Zanten, Chief Executive Officer of Bunzl, said:

"I am delighted to welcome these new acquisitions to the Bunzl family. 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."

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