Bunzl Regulatory News (BNZL)

1 March 2021

BUNZL MAKES FURTHER ACQUISITIONS IN THE UK, NETHERLANDS AND CANADA

Bunzl plc, the specialist international distribution and services Group, today announces that it has recently completed three further acquisitions.

In January the Company acquired Deliver Net, a healthcare distributor to care home groups in the UK, with 2020 revenue of £20 million. Deliver Net is closely aligned with Bunzl's existing care home business in the UK which is expected to support Deliver Net's expansion into additional product offerings such as care home equipment.

In February the Company completed the acquisition of Disposable Discounter, an online distributor of foodservice disposable products to a highly fragmented customer base. The business has grown strongly in recent years and operates mostly in the Netherlands but has recently started to expand across Europe. Disposable Discounter generated £18 million of revenue in 2020, has attractive growth potential and supports Bunzl's continued development of e-commerce capabilities.

Bunzl also completed the acquisition of Pinnacle, a leading distributor of cleaning & hygiene in Saskatchewan, Canada, in February. Pinnacle generated £11 million of revenue in 2020 and supports a wide range of customers in the education, facilities management and care home sectors. The business is highly complementary to Bunzl's existing cleaning & hygiene business in Canada.

Commenting on the acquisitions, Frank van Zanten, Chief Executive Officer of Bunzl, said:

"I am pleased to welcome Deliver Net, Disposable Discounter and Pinnacle into the Bunzl family. All three businesses demonstrate our continued focus on growing Bunzl through the acquisition of high quality businesses. Further, these acquisitions demonstrate Bunzl's continued acquisition momentum, with our pipeline remaining active and discussions ongoing."

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