Bunzl PLC (LSE:BNZL) said it bought four businesses in recent weeks, taking the international distribution group's number of acquisitions to six this year, for a price tag of more than £220mln.
Yesterday, Bunzl completed the acquisition of Containit, a distributor of warehouse storage solutions to the resources and defence sectors in Australia, which generated revenue of around £9mln in 2021.
“The expansion into warehouse solutions complements Bunzl's existing offering in the Australian safety market, further strengthening our position there,” the said.
Last month, Bunzl agreed to buy Corsul Group, a distributor of personal protective equipment (PPE) in Brazil. Corsul’s revenue totalled around £35mln in 2021.
July also saw the group complete the acquisitions of Dutch distributor AFL Groep and UK catering supplies distributor London Catering & Hygiene Solutions. The companies generated revenue of £16mln and £5mln respectively in their latest financial years.
"Our acquisition of Containit allows us to expand into an attractive adjacent market, whilst the acquisition of Corsul will allow Bunzl to develop its operations in the Southern Brazilian PPE market,” commented Bunzl CEO Frank van Zanten.
“AFL drives our continued expansion into the attractive logistics sectors in Benelux and, at the same time, increases our digital footprint. Furthermore, the acquisition of LCHS supports our UK business by growing our presence in the south of the UK.
“The group's strong balance sheet continues to support our compounding growth strategy, with our acquisition pipeline remaining active," he added.