Bunzl Regulatory News (BNZL)

17 December 2019

BUNZL PRE CLOSE STATEMENT AND ACQUISITION IN AUSTRALIA

Bunzl plc, the specialist international distribution and services Group, is updating the market today prior to entering its closed period for the year ending 31 December 2019.

The Group's expectations for the year ending 31 December 2019 remain unchanged with overall trading consistent with the slowing underlying revenue growth indicated in previous announcements this year due to the impact of the continued mixed macroeconomic and market conditions across the countries and sectors in which the Group operates.

Group revenue for the year is expected to have increased by between 2% and 3% at actual exchange rates. At constant exchange rates revenue is expected to have risen by around 1% due to the impact of acquisitions, net of disposals, with underlying revenue broadly unchanged from the prior year.

The Company also announces that it has recently acquired a safety and emergency response supplies business in Australia. Fire Rescue Safety Australia (FRSA) is principally engaged in the distribution of specialist safety and personal protection equipment focused on fire, rescue and emergency response services. Customers include government fire, emergency and defence services and industrial companies operating in the mining sector. The business is based in Perth and operates from five locations across Australia. Annual revenue is approximately A$37 million (c.£19 million).

Growth through acquisitions is an important part of the ongoing strategy of Bunzl. Including the acquisition announced today, the Company has agreed to acquire three businesses so far this year for a total committed spend of approximately £120 million. The acquisition pipeline remains active and a number of discussions with potential targets are ongoing.

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

"FRSA has a market leading position in the provision of emergency response solutions in Australia and further expands and develops the scope of our operations there. We are delighted to welcome their employees to the Group."

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