Distribution and support services group Bunzl (LON:BNZL) unveiled a string of international acquisitions as it reported an expected rise in half-year revenue.
Bunzl has agreed to buy International Sourcing Company, which trades as Cordova Safety Products and is based in Memphis, Tennessee. Cordova sells personal protection equipment, particularly gloves, to distributors throughout the US.
The group has done a deal to buy Colombian personal protection equipment supplier Importadores Exportadores Solmaq.
It has also completed the purchase of Canadian industrial packaging distributor GF and French workwear supplier Ligne T.
The deals take the number of businesses that Bunzl has bought so far in 2015 to 10 with a total year-to-date committed acquisition spend of more than £210mln. It said the line-up of potential further acquisitions in the second half was good.
Bunzl chief executive Michael Roney said: "The acquisition of Cordova Safety Products, Solmaq and Ligne T each represent an extension of our existing safety businesses in the US, Colombia and France as we continue to look to expand and develop our operations in this important sector.
"The purchase of GF is the sixth acquisition we have made in Canada since 2013 as a result of which we have developed a national business in Canada with annual revenue in excess of C$700mln. We welcome all employees of the new businesses to Bunzl."
Bunzl said overall group performance was consistent with expectations at the time of the first quarter trading statement in April.
Group revenue for the half year is expected to have increased by 6% due to growth at constant exchange rates (CER) of approximately 5% and the effect of positive currency exchange translation of about 1%.
The CER growth reflects organic revenue growth of 1% with the rest due to the positive impact of acquisitions. The lower organic growth compared to the same period in 2014 was mainly due to slower growth in North America caused by the net impact of some lost business and price declines on plastic resin-based products.
Shares in Bunzl fell 27p to 1864p in early trading in London.