Bunzl PLC
5 July 2001
5 July 2001
BUNZL EXPANDS OUTSOURCING SERVICES IN THE UK
Bunzl plc, the international Group supplying business to business consumables,
today announces that it has entered into an agreement with British Polythene
Industries PLC to purchase its UK carrier bag supply business for a total cash
consideration of up to £8.5 million, comprising £8.0 million payable on
completion and a further £0.5 million subject to valuation of the stock to be
acquired. Completion, which is subject to employee consultation and other
legal conditions, is expected to take place within the next seven to ten days.
The business, which principally supplies carrier bags to UK supermarkets and
other high street retailers, had sales of £35 million in the year to 30 June
2001.
Commenting on the acquisition, Anthony Habgood, Chairman of Bunzl, said:
'This acquisition enables us to expand significantly our retail supply
business in the UK and build on our successful international sourcing
operation.'
Enquiries:
Bunzl plc Finsbury
Anthony Habgood, Chairman Roland Rudd
David Williams, Finance Director Morgan Bone
Tel: 020 7495 4950 Tel: 020 7251 3801
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