Bunzl expands footprint in Australia

Distribution and outsourcing firm Bunzl has bought three units from Australian industrial and safety company Jeminex in an attempt to expand its footprint in a key market.

Distribution and outsourcing firm Bunzl has bought three units from Australian industrial and safety company Jeminex in an attempt to expand its footprint in a key market.

The businesses, all based in Sydney, focus on three specialist markets and "significantly increases the size of our business in Australasia and extends our operations there into the safety market which is a successful sector for us in many countries", according to Chief Executive Officer Michael Roney.

Bunzl has purchased Jeminex's workwear and personal safety division, distributing personal protection equipment, industrial clothing and workwear to the mining, resources, construction and general industrial sectors.

Lifting, rigging and height safety operations will also be added to Bunzl's portfolio, as well as the supply of industrial packaging products.

Roney said: "[The acquisition] also provides us with the opportunity to sell our extensive product range to Jeminex's existing customer base. We are delighted to welcome the employees of each of the businesses to Bunzl".

Revenues of these three businesses are expected to total A$160m (around £107m) in 2013.

Recommended

Share tips of the week – 21 January
Share tips

Share tips of the week – 21 January

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
21 Jan 2022
Seven cheap defence stocks to buy now
Share tips

Seven cheap defence stocks to buy now

We’ve got used to a world without war between major powers, but that era is coming to an end as Russia threatens Ukraine and China eyes Taiwan. Buy de…
21 Jan 2022
Invest in VCTs: tax-free investments set to break records
Investment strategy

Invest in VCTs: tax-free investments set to break records

Generous tax breaks make VCTs – venture capital funds – an attractive supplement to pensions.
21 Jan 2022
HubSpot: a tech stock set to tumble
Trading

HubSpot: a tech stock set to tumble

US tech stocks have had a fantastic couple of years. But this year is unlikely to be so bullish for high-fliers that can’t turn big profits.
18 Jan 2022

Most Popular

Ask for a pay rise – everyone else is
Inflation

Ask for a pay rise – everyone else is

As inflation bites and the labour market remains tight, many of the nation's employees are asking for a pay rise. Merryn Somerset Webb explains why yo…
17 Jan 2022
Temple Bar’s Ian Lance and Nick Purves: the essence of value investing
Investment strategy

Temple Bar’s Ian Lance and Nick Purves: the essence of value investing

Ian Lance and Nick Purves of the Temple Bar investment trust explain the essence of “value investing” – buying something for less than its intrinsic v…
14 Jan 2022
Interest rates might rise faster than expected – what does that mean for your money?
Global Economy

Interest rates might rise faster than expected – what does that mean for your money?

The idea that the US Federal Reserve could raise interest rates much earlier than anticipated has upset the markets. John Stepek explains why, and wha…
6 Jan 2022