Bunzl makes first acquisition in Spain

01 Mar 2007

Bunzl plc, the international distribution and outsourcing Group, today announces that it has acquired Iberlim-Catalanet SA from Juli Casulleras and Joan Gilbert.

Based near Barcelona, Iberlim is principally engaged in the distribution of cleaning and hygiene products to a variety of customers in Spain. Revenue in the year ended 31 December 2006 was €8.8 million and the gross assets acquired are estimated to be €5.5 million.

Commenting on the acquisition, Michael Roney, Chief Executive of Bunzl, said:

"I am very pleased to welcome Iberlim to the Group. This acquisition represents our first step into the Spanish market and is in line with our strategy of expanding the business into new geographic areas. It will also provide an opportunity to develop further in this region"

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