Bunzl acquires Silco in Israel

21 Apr 2010

Bunzl plc, the international distribution and outsourcing Group, today announces that it has acquired M.S. Global Limited and its trading subsidiary, Silco (Utensils) A.S. Limited, from Yaniv Mor, Adi Mor and Menachem Pereplochick.

Silco, which is based near Tel Aviv, is a leading supplier of foodservice disposables to a number of different sectors throughout Israel, including restaurants, caterers and redistributors. Revenue in the year ended 31 December 2009 was ILS64 million and the gross assets acquired are estimated to be ILS32 million.

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

"This is another important acquisition for us which represents our first move into the market in Israel where we see opportunities to develop further. Silco is an excellent business with a leading market position and a strong customer base. We are delighted to welcome all of their employees to the Group."

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