Bunzl PLC
24 November 2004
24 November 2004
BUNZL FURTHER EXPANDS OUTSOURCING SERVICES
Bunzl plc, the international distribution and outsourcing Group, today announces
that it has acquired Joseph Weil & Sons, a redistribution business based in
Chicago, Illinois and Beltex, a leading distributor of cleaning & safety
products in Hungary.
A private company, Weil supplies janitorial/sanitation, disposable foodservice
and non-food retail products in the Midwest United States and had sales of $53
million in the year ended 30 June 2004. Net assets at completion are estimated
to be $9.0 million on a debt free basis.
Beltex, also a private company, has grown organically to become a leading
national player in Hungary with additional branches in neighbouring Romania and
Slovakia. Its product range encompasses cleaning & hygiene supplies and has also
recently extended into safety supplies & personal protection equipment. Sales in
the year ended 31 December 2003 were €12 million. Net assets at completion are
estimated to be €3.3 million on a debt free basis.
Commenting on the acquisitions, Anthony Habgood, Chairman of Bunzl said:
'Weil is a strong jan/san and food service disposable supplier based in Chicago
which will complement our position there and provide an opportunity to develop
further into these markets. Beltex is our first acquisition in Outsourcing
Services in Eastern Europe and establishes a platform in a key region of growth
and future potential. These acquisitions further reinforce Bunzl as the logical
partner for customers and suppliers.'
Enquiries:
Bunzl plc Finsbury
Anthony Habgood, Chairman Roland Rudd
David Williams, Finance Director Morgan Bone
Tel: 020 7495 4950 Tel: 020 7251 3801
This information is provided by RNS
The company news service from the London Stock Exchange
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