LONDON (dpa-AFX) - Bunzl plc (BZLFY.PK, BNZL.L), on Tuesday, announced that it has signed an agreement to acquire a business in Poland, and also acquired a business in the Netherlands. The acquisition in Poland is the Group's first in the country and, upon completion, will increase the number of countries that Bunzl operates in, to 32.
In July, Bunzl signed an agreement to acquire Safety First, one of the largest distributors of Personal Protective Equipment products in Poland to a range of end markets. This is Bunzl's anchor acquisition in Poland, achieving its first entry into the country, which has been a key target for expansion. Safety First generated PLN 121 million in revenue in 2022.
Also in July, Bunzl acquired EcoTools.nl, a Netherlands-based specialist online distributor of tool accessories and industrial consumables to customers across the Benelux region. In 2022, this high-growth business generated revenue of EUR 20 million with very high double-digit margins.
Frank van Zanten, Chief Executive Officer of Bunzl, said: '.Our acquisition momentum has been strong this year and our total committed spend year-to-date is now more than £350 million. We have significant headroom to continue to self-fund value-accretive acquisitions and our pipeline remains active.'
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