Bunzl snaps up another PPE distribution business

Bunzl PLC (LON:BNZL) has agreed to buy a personal protection equipment (PPE) distributor in Brazil, and said it has completed another PPE distributor in Denmark.

The FTSE 100 distribution group said it expected to completed the acquisition of Sao Paulo-based SP Equipamentos at the end of November.

Supplying a range of safety products to customers across the mining, steel, construction and agriculture sectors, the new acquisition made revenue of 143mln Brazilian reais (roughly £22mln) in 2019.

So far this year, Bunzl has committed more than £400mln on acquisitions, said chief executive Frank van Zanten, with the acquisition of Denmark-based ICM now completed after first being announced in February.

“Our acquisition pipeline remains promising with a number of discussions ongoing,” he said.