Advertisement

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.

Advertisement - Article continues below

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.

Advertisement
Advertisement

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

What gold, bonds and tech stocks have in common
Stockmarkets

What gold, bonds and tech stocks have in common

"Risk off" or "safe haven" assets such as gold and government bonds have been doing well lately. But so have riskier tech stocks. That seems to defy c…
10 Jul 2020
An economics lesson from my barber
Inflation

An economics lesson from my barber

On reopening his shop after lockdown, Dominic Frisby’s barber doubled his prices. It’s all part of the post-Covid inflation process – and we’re going …
8 Jul 2020
House price crash: UK property prices are falling – so where next?
Property

House price crash: UK property prices are falling – so where next?

With UK property prices falling for the first time in eight years, are we about to see a house price crash? John Stepek looks at what’s behind the sli…
2 Jul 2020