14 June 2022
BUNZL ACQUIRES BUSINESSES IN GERMANY AND NEW ZEALAND
Bunzl plc, the specialist international distribution and services Group, today announces that it has entered into an agreement to acquire a cleaning & hygiene business in Germany and has completed the acquisition of a healthcare consumables business in New Zealand.
Hygi.de ("Hygi") is a leading and fast growing online distributor of cleaning and hygiene products in Germany to a fragmented customer base. The business services the B2B market and drives strong customer retention through specialist customer service and its reputation in the market. The acquisition represents an important milestone for the Group, materially increasing Bunzl's presence in the large German market. Hygi generated revenue in 2021 of EUR 107 million (c.£92 million) and an operating margin above the Group average. Hygi is well positioned for continued expansion, benefiting from increased hygiene awareness and market share opportunities. Completion of the acquisition is subject to competition authority clearance.
The acquisition of USL, a New Zealand distributor of medical consumables to the healthcare sector, including hospitals, aged care, and community health services, was completed earlier this month. The acquisition further complements Bunzl's growing presence in New Zealand and the healthcare sector across the region. USL generated revenue in 2021 of NZD 114 million (c.£59 million).
Commenting on the acquisitions, Frank van Zanten, Chief Executive Officer of Bunzl, said:
"I am truly excited about the acquisition of the successful online distributor Hygi, as this marks a significant step in the development of our business in Germany, a market which has the potential to be more sizeable for Bunzl. Furthermore, acquiring USL increases Bunzl's position in the growing and attractive healthcare consumables market in New Zealand. These acquisitions highlight Bunzl's continued consolidation opportunity, which is supported by the strength of our balance sheet and an active pipeline."
Frank van Zanten, Chief Executive Officer
Richard Howes, Chief Financial Officer
Sunita Entwisle, Head of Investor Relations
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