CUSTOMER CONTRACT

RNS Number : 6606O

Bunzl PLC

02 February 2023

 

02 February 2023

BUNZL ANNOUNCEMENT REGARDING CUSTOMER CONTRACT

IN NORTH AMERICA AND ACQUISITION IN SPAIN

Bunzl plc, the specialist international distribution and services Group, today announces that it has agreed terms with its largest customer by revenue to continue to support the company with value-added distribution services across the United States. There is no material change to revenue and profit attributable to the contract, although agreed terms significantly reduce Bunzl's sensitivity to product and operating cost movements.

In addition, Bunzl completed the acquisition of Grupo R. Queralto in December 2022. Queralto is a fast-growing online distributor of healthcare products based in Spain with a strong own brand portfolio. In 2022 the business generated revenue of EUR 27 million (c.£23 million).

Frank van Zanten, Chief Executive Officer of Bunzl, said:

"I am pleased to announce the continuation of this long-standing customer partnership, with this collaboration highlighting the strength of our customer-focused proposition.

I am also pleased to welcome Queralto to the Bunzl family, a business that is highly complementary to our healthcare business in Spain and further enhances our own brand portfolio. Overall, 2022 was another successful year for Bunzl's compounding growth strategy, with agreements to acquire 12 businesses across a range of different sectors and countries, highlighting the breadth of our opportunity."

Enquiries:

Bunzl plc Frank van Zanten, Chief Executive Officer Richard Howes, Chief Financial Officer Sunita Entwisle, Head of Investor Relations Tel: [phone]

Tulchan Martin Robinson Olivia Peters Tel: [phone]

 

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