Bunzl Acquires Further Businesses In Mexico And The UK
Bunzl plc, the international distribution and outsourcing Group, recently announces that it has entered into an agreement to purchase a business in Mexico and has also acquired a business in the UK.
Based in Monterrey, Espomega is a leading redistribution business supplying a variety of safety products, including gloves and protective clothing, throughout Mexico. Revenue in the year ending 31 December 2013 is expected to be approximately MXN550 million (c.£28 million). Completion of the acquisition of Espomega is due to take place at the end of August.
TFS (The Fulfilment Store) is based in Rugby and is engaged in the procurement and fulfilment of promotional products and marketing point of sale materials for customers in the UK across various market sectors. Revenue in the year ended 31 December 2012 was £8M.
Commenting on the acquisitions, Michael Roney said:
“The acquisition of Espomega will expand significantly our safety business in Mexico being a sector we entered there with the purchase of Vicsa Safety at the end of last year. The business has an excellent range of own brand products which will extend our product offering to our customers throughout the region. Following the purchase of MDA earlier this year, the acquisition of TFS will further strengthen our business in the UK which is focused on marketing and point of sale materials and extend our service capabilities in these types of products into additional market sectors. We are delighted to welcome the employees of both businesses to Bunzl.”
SOURCE: Bunzl plc