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Bunzl Acquires Businesses in US, UK
Tuesday 13 February 2018

13 February 2018 - UK-based distribution and outsourcing group Bunzl plc (LSE: BNZL) has closed the acquisitions of two further businesses in the US and the UK and the proposed sale of a business in France, the company said.
 
These include Revco, which is based in California, is engaged in the design, development and distribution of workplace safety and personal protection equipment to redistributors selling into a range of end user markets, principally the welding and industrial sectors, throughout the US.

Revenue in the year ended December 2017 is expected to be USD 37m.
 
During December the company agreed to acquire the business of the Aggora Group which is principally engaged in the design, supply, installation and maintenance of commercial catering equipment for end user customers throughout the UK.

The acquisition was completed in early January. Revenue in the year ended March 2017 was GBP27m.
 
Bunzl also announces that in December it received a binding offer relating to the proposed sale of OPM in France. OPM was originally acquired as part of Groupe Pierre Le Goff which was purchased in 2004.

It is a non-core business which has most recently focused on the distribution and sale of SodaStream products to retailers throughout France and the company has decided that it is now an appropriate time to sell the business.

Revenue in the year ended December 2017 was EUR 57m.

Completion of the transaction is subject to the conclusion of a consultation process with OPM's works council and the subsequent entering into of a sale and purchase agreement. Subject thereto, the transaction is expected to complete in 1Q18.
 
Finally, the company confirms that the acquisition of Talge, which was announced on 23 November 2017, has been completed following clearance of the transaction by the Brazilian competition authority.
Details
Date Published: 13/02/2018
Target: Revco, Aggora Group
Country: USA
Sector: Business and Consumer Services
Type: Corporate acquisition
Financing:
Status: Closed
Vendor:
Buyer: Bunzl
Comment:
Terms of the deal were not disclosed

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