Bunzl plc, the international distribution and outsourcing Group, today announces that it has entered into an agreement to acquire Diversified Distribution Systems, LLC (DDS) in the US.
DDS is a distributor of goods not-for-resale and value-added services to retailers and other general distribution customers, principally throughout North America but also in Europe, the Middle East and Asia. Based in Minneapolis and with four distribution centres in the US and several third party logistic arrangements internationally, the business supplies a wide range of packaging, consumables and operating store supplies through a variety of distribution and outsourcing programmes. Revenue in 2016 was US$312 million. Completion of the acquisition is subject to clearance of the transaction by the Federal Trade Commission, the relevant US competition authority.
Commenting on the acquisition, Frank van Zanten, Chief Executive of Bunzl, said:
“The proposed purchase of DDS will expand and extend our outsourcing business globally, particularly in relation to the retail sector. The transaction will improve our operating platform and, by combining our resources with those of DDS, we will be able to provide benefits to customers through an enhanced service offering."
|Frank van Zanten, Chief Executive
|Brian May, Finance Director
|Tel: +44 (0)20 7725 5000
||Tel: +44 (0)20 7353 4200