Bunzl snaps up Swiss distribution firm
Distribution and outsourcing firm Bunzl has acquired MMH Holding, which trades under the name Distrimondo, the Swiss group involved in the distribution of food-service disposables and cleaning and hygiene products.
Distribution and outsourcing firm Bunzl has acquired MMH Holding, which trades under the name Distrimondo, the Swiss group involved in the distribution of food-service disposables and cleaning and hygiene products.
Distrimondo will be acquired from Markus Meier, Daniel Meier and Reto Hofmann for an undisclosed sum.
The business, based near Zurich, generated revenues of 17.3m Swiss francs in 2011 and the gross assets acquired were valued at 16m francs by the end of that year.
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 acquisition of Distrimondo extends our operations in Switzerland which is a key market that we entered in 2010 with the purchase of Weita," said Chief Executive Michael Roney.
"The business has a strong customer base and a leading position in the sectors in which it competes. We are pleased to welcome their employees to Bunzl."
Bunzl was trading 0.47% higher at 1,074p by 15:46 on Wednesday.
BC
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
Career ‘pension gaps’ could reduce average worker’s retirement pot by six-figure sums, new report finds
News The report by the Institute and Faculty of Actuaries (IFoA) has shown key career decisions, like opting out of an employer’s auto-enrolment scheme, could significantly reduce final pension pots.
By Henry Sandercock Published
-
Is the US dollar losing its appeal?
The US dollar is looking oversold in the short term and is due a bounce. What does it mean for global markets and the upcoming US elections?
By Dominic Frisby Published