Distribution giant Bunzl has spent a record amount on acquisitions this year, splashing out £320m to buy up 21 businesses.
The company announced three further deals in France, Chile and Spain as it said that annual revenues would grow by 5 per cent, reflecting “some organic growth” as well as the impact of its bolt-on deals, writes Peter Campbell.
The FTSE 100 group warned it would be hit by the impact of falling prices in the US plastics market, and said that margins would be similar to last year.
Its three latest acquisitions are Comatec, a French company that ships high-end single use tablecloths to restaurants and hotels, DPS, a Chilean distribution firm specialising in catering, cleaning and packaging and Faru, which distributes hard hats and other safety kit throughout Spain.
Michael Roney, Chief Executive of Bunzl, said:
The acquisition of Comatec is a significant addition to our strong business in France and expands our operations into the foodservice sector where we are already a leader in many countries.
The purchase of DPS in Chile extends our business there into the foodservice and cleaning and hygiene sectors in a country where we have previously built a strong anchor position in the safety sector.
Faru will complement our existing safety business in Spain by further enhancing our product offering.
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