Distribution and outsourcing group Bunzl has completed a trio of acquisitions, for undisclosed amounts, in the US, Israel and Australia.
FIrstly, the firm has bought Chicago-based firm FoodHandler, which supplies disposable globs and other food-handling products to the food service sector in the US.
The group, which generated revenue of $99.4m in 2011, has "a leading position in the provision of products relating to food safety and an excellent reputation for quality, innovation and customer service," said Bunzl's Chief Executive Michael Roney.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely 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
"The business will complement our existing foodservice operations and expands our product offering and import programme in this sector," he said.
Meanwhile, Bunzl has also acquired Tel Aviv-based food service packaging group Meichaley Zahev, its second acquisition in Israel which significantly increases its footprint in the region. Zahev's revenue in 2011 was 66.3m Isreali shekel (£10.8m).
Lastly, Queensland-based Star Services International Pty has also been added to Bunzl's portfolio. It supplies food service disposable products to wholesalers and redistributors and "will allow us to penetrate further into the redistribution sector of this market."
"We are pleased to welcome all of their employees to Bunzl," Roney said.
Bunzl spent £185m on acquisitions in the year ended December 31st 2011, which added annualised revenue of more than £200m, the firm said in February.
BC
-
Rightmove: property asking prices hit record highNews Rising demand for top of the ladder home is boosting asking prices, Rightmove research shows. Is now a good time to sell a property?
-
FTSE 100 hits record highs – why is it rising and will we see more gains?Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
