Bunzl plc, the London, England-based international distribution and outsourcing group, continues its acquisitive ways and shows no sign of stopping, especially in the safety sector. The company acquired four companies this week – one each in the U.S., Colombia, Canada and France – to bring its 2015 total to 11.
These latest assets that Bunzl has added "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 CEO Michael Roney.
Earlier this year, Bunzl made announcements adding four businesses (one in Turkey, two in Canada and one in the Netherlands) in April, adding two businesses (Spain and Canada) in February and adding one (U.S.) in January to its portfolio.
The company has been especially keen on Canada for the past couple of years, with Roney noting that its purchase this week of Calgary, AB-based GF Inc. was its sixth acquisition in Canada since 2013, the "result of which we have developed a national business in Canada with annual revenue in excess of C$700 million (US$568 million).
The recent moves by Bunzl speak to an M&A market in distribution that is “incredibly strong right now” because of the industry’s financial strength and stability, Jason Kliewer, co-head of Baird’s distribution group, says in M&A Competition Heating Up.
