MADRID: Bunzl has been expanding its business through acquisitions and expects this strategy to support continued growth delivery truck.
Distribution and outsourcing company Bunzl PLC said it has completed its first acquisition in China as it reported growth in first half revenues and profits.
Bunzl has bought Shanghai-based HSESF, which sells personal protection equipment, bringing the number of acquisitions in the year to date to 11 with a total spend of £546mln, the company said in a statement.
“With annual revenue flow currently of £24mln, this is a small but strategically important deal for the group and should be welcomed by the investment community, in our view,” said analysts at Shore Capital.
