Bunzl Q3 trading statement and acquisition in Brazil
Bunzl plc, the specialist international distribution and services Group, today announces its trading statement for the period since 30 June 2018.
Overall performance is consistent with expectations at the time of the half year results announcement in August. Group revenue for the third quarter increased by 7% at constant exchange rates due to organic growth of approximately 4% and an impact from acquisitions, net of disposals, of approximately 3%.
The Company also announces that it recently entered into an agreement to acquire Volk do Brasil which is a leading distributor of personal protection equipment based in Parana, Brazil. It is principally engaged in the supply of a broad range of gloves to redistributors and end users operating in a variety of market sectors. The business is forecast to achieve revenue in 2018 of R$200 million (c.£41 million). Completion of the acquisition is subject to clearance of the transaction by the Brazilian competition authority.
Commenting on the acquisition, Frank van Zanten, Chief Executive of Bunzl, said:
“The proposed purchase of Volk do Brasil will expand our already well established safety business in Brazil and will complement and strengthen our product offering in the safety sector. We look forward to welcoming their employees to the Group.”
|Frank van Zanten, Chief Executive
|Brian May, Finance Director
|Tel: +44 (0)20 7725 5000
|Tel: +44 (0)20 7353 4200