12 January 2022
BUNZL ACQUIRES US BASED SAFETY BUSINESS
Bunzl plc, the specialist international distribution and services Group, today announces that it completed one further acquisition in 2021.
In late December Bunzl completed the acquisition of Tingley Rubber Corporation, a distributor of own brand PPE based in New Jersey, US. The business is focused on protective footwear and apparel and has a strong product portfolio. Tingley generated revenue in 2021 of $68 million (c. £49 million).
Commenting on the acquisition, Frank van Zanten, Chief Executive Officer of Bunzl, said:
"I am pleased to announce the acquisition of Tingley which will further enhance our North American safety offering with its innovative brand portfolio and represents our 14th acquisition completed in 2021. The Group's committed spend over 2020 and 2021 combined was approximately £950 million, making the last two years one of the most successful periods in our history for acquisitions. Our pipeline remains active, supported by the strength of our balance sheet."
Frank van Zanten, Chief Executive Officer
Richard Howes, Chief Financial Officer
Sunita Entwisle, Head of Investor Relations
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