Bunzl PLC
05 September 2007
5 September 2007
BUNZL TO EXPAND IN IRELAND
Bunzl plc, the international distribution and outsourcing Group, today announces
that it has entered into an agreement to acquire DG Distributors and Vendors
Limited and its subsidiaries from Brendan Cooney, Dermot Divilly and Greg
Lawless.
The business, which is based in Dublin and trades under the name of Irish
Merchants, is principally engaged in the distribution of foodservice
disposables, janitorial supplies and beverage systems to the horeca, healthcare
and retail sectors throughout Ireland.
Revenue in the year ended March 2007 was €45 million and the gross assets to be
acquired are estimated to be €11 million. Completion of the acquisition is
subject to clearance from the Irish Competition Authority.
Commenting on the acquisition, Michael Roney, Chief Executive of Bunzl, said:
'The acquisition of Irish Merchants, formerly an associated company of King
Benelux which we have recently acquired, is a good strategic fit for Bunzl which
will significantly increase the size of our business in Ireland and strengthen
our position in this market. We look forward to welcoming the management and all
of the staff to the Group.'
Enquiries:
Bunzl plc Tulchan
Michael Roney, Chief Executive David Allchurch
Brian May, Finance Director Stephen Malthouse
Tel: 020 7495 4950 Tel: 020 7353 4200
This information is provided by RNS
The company news service from the London Stock Exchange
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