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 – 24 September
Share tips

Share tips of the week – 24 September

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
24 Sep 2021
Three strong Asian stocks trading at bargain prices
Share tips

Three strong Asian stocks trading at bargain prices

Professional investor Nitin Bajaj of the Fidelity Asian Values investment trust picks three stocks that dominate their industries, earn good returns o…
20 Sep 2021
Why it pays to face up to your investment mistakes
Investment strategy

Why it pays to face up to your investment mistakes

Buying stocks can be a complicated business. But selling stocks can be tricky, too – even if you sell for the right reasons. Max King explains how to …
17 Sep 2021
Share tips of the week – 17 September
Share tips

Share tips of the week – 17 September

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
17 Sep 2021

Most Popular

Two shipping funds to buy for steady income
Investment trusts

Two shipping funds to buy for steady income

Returns from owning ships are volatile, but these two investment trusts are trying to make the sector less risky.
7 Sep 2021
Should investors be worried about stagflation?
US Economy

Should investors be worried about stagflation?

The latest US employment data has raised the ugly spectre of “stagflation” – weak growth and high inflation. John Stepek looks at what’s going on and …
6 Sep 2021
A nightmare 1970s scenario for investors is edging closer
Investment strategy

A nightmare 1970s scenario for investors is edging closer

Inflation need not be a worry unless it is driven by labour market shortages. Unfortunately, writes macroeconomist Philip Pilkington, that’s exactly w…
17 Sep 2021