Bunzl plc, an international distribution and outsourcing Group, announced Tuesday that it has agreed to acquire four businesses in the U.S., Colombia, Canada, and France.
The company has entered into an agreement to acquire International Sourcing Company, Inc., which trades as Cordova Safety Products. Operating from two facilities and based in Memphis, TN, Cordova Safety Products is engaged in the sale of a variety of personal protection equipment, principally gloves, to distributors throughout the U.S. Most products supplied are own label. Revenue in the year ended Sept. 30, 2014 was $81. The acquisition is expected to be completed at the end of June.
Bunzl has also entered into an agreement to acquire Importadores Exportadores Solmaq SAS based in Bogota, Colombia. Solmaq supplies a complete range of head to toe personal protection equipment and other welding and industrial consumables to distributors, retailers and end users throughout Colombia from a network of six facilities. Revenue in the year ended Dec. 31, 2014 was $21.5 million. Completion of the acquisition is expected to take place at the end of June.
The Company has also completed the purchase of GF, Inc., a distributor of industrial packaging, warehouse supplies and equipment based in Calgary, Canada. The business has a large and diverse base of end user customers in western Canada serviced from 11 facilities. Revenue in the year ended Dec. 31, 2014 was $66 million. It is Bunzl's sixth acquisition in Canada since 2013.
Finally, Bunzl has acquired Ligne T SAS, a distributor of personal protection equipment, principally workwear, based in Montauban, France. The business supplies a variety of end user customers throughout the south west region of France. Revenue in the year ended August 2014 was $6.4 million.
"The acquisition of Cordova Safety Products, Solmaq and Ligne T each represent an extension of our existing safety businesses in the U.S., Colombia, and France as we continue to look to expand and develop our operations in this important sector," said Michael Roney, Chief Executive of Bunzl. We welcome all employees of the new businesses to Bunzl."
