17 Aug 2007
Bunzl plc, the international distribution and outsourcing Group, today announces that it has acquired Coffee Point Group Limited from Nick Naismith and Tim Newberry, the principal shareholders, and other private shareholders of Coffee Point.
Based in London with nine regional locations throughout the UK, Coffee Point is engaged in the sale and operation of vending machines and associated services for a broad customer base. It had revenue of £45 million in the year ended 31 March 2007 and gross assets acquired are estimated to be £17 million.
Commenting on the acquisition, Michael Roney, Chief Executive of Bunzl, said:
"The acquisition of Coffee Point substantially increases the size of our vending business which is now the largest vending operator in the UK. This growing business has a reputation for providing excellent service and innovative products with a strong customer base which complements our existing business. I am delighted to welcome the management team and all the staff of Coffee Point to Bunzl."
|Michael Roney, Chief Executive||David Allchurch|
|Brian May, Finance Director||Stephen Malthouse|
|Tel: 020 7495 4950||Tel: 020 7353 4200|