UK-based distribution and outsourcing group Bunzl plc has acquired Chinese personal protection equipment distributor HSESF, the company's first acquisition in China. Terms were not disclosed.
HSESF, which sells a variety of personal protection equipment to local distributors and end users in China and abroad, reported sales of £24 million (US$31.1 million) in 2016.
Bunzl also reported sales for the first half of 2017 of £4.1 billion (US$5.3 billion), up 20 percent from 2016. Operating profit for the period was £272.6 million (US$352.8 million) an increase of 16 percent.
