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Bunzl acquires Brazil based safety business
StockMarketWire.com
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Specialist international distribution and services group Bunzl agreed to acquire SP Eqipamentos, a leading personal protection equipment distributor based in Sao Paulo, Brazil for around £22 million. Completion is expected to take place by the end of the month.
The company also said it had completed the acquisition of ICM in Denmark subsequent to the announcement on 24 February 2020. ICM generated revenues of approximately £49 million in 2019.
Chief executive Frank van Zantan commented, 'Growth through acquisitions continues to be an important part of the strategy of the Group and I am pleased that year to date our committed acquisition spend totals more than £400m. Our acquisition pipeline remains promising with a number of discussions ongoing.'
Story provided by StockMarketWire.com
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