Bunzl plc, the international distribution and services group, has agreed to acquire a business in Germany and completed the acquisition of another in Canada.
In February 2023, Bunzl entered into an agreement to acquire Arbeitsschutz-Express, a fast-growing online distributor of workwear and PPE in Germany, which generated EUR 41 million (c.£35 million) of revenue in 2022. The acquisition enhances Bunzl’s presence in Germany, following Bunzl’s acquisition of hygi.de in July 2022.
In January 2023, Bunzl acquired Capital Paper, a distributor of foodservice packaging and consumables, cleaning and hygiene supplies, and industrial packaging products in Canada. Capital Paper generated revenue of CAD 26 million in 2022.
Frank van Zanten, CEO of Bunzl, said: “Our pipeline is active, and we see significant opportunities for continued acquisition growth in our existing markets where we have opportunity to increase our presence, as well as potential to expand into new markets.”