Bunzl acquires Brazilian firm Danny Comércio

FTSE 100 firm Bunzl, the international distribution and outsourcing group, has acquired Brazilian company Danny Comrcio Importao Exportao.

The company, which is based near So Paulo, specialises in the sourcing and sale of gloves and safety glasses for a variety of industrial uses including the automotive, consumer goods, food processing, petrochemical and mining sectors.

Revenue for the year ended 31 December 2010 was Real $55.6m and is expected to be approximately R$70m in 2011. The gross assets acquired are estimated to be R$30m.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

Sign up

Chief executive Michael Roney said: "Danny is our fourth acquisition in the Brazilian market since 2008 and follows the recent acquisition of Ideal in the cleaning and hygiene sector.

"It will complement our growing and successful personal protection equipment business and in particular will expand our range of own brand products to both new and existing customers."

NR