# Bunzl acquires safety businesses in Brazil & Spain

- Link: https://www.directorstalkinterviews.com/bunzl-acquires-safety-businesses-in-brazil-spain/4121120759
- Published: 2023-05-30T07:27:03+01:00
- Author: Amilia Stone

**[Bunzl plc](https://www.directorstalkinterviews.com/ftse-company/bunzl-plc/bnzl.l)**(
LON:BNZL), the specialist international distribution and services Group, has announces
that it has agreed to acquire a safety business in Brazil and a safety business 
in Spain. As a result, Bunzl has reached the significant milestone of 200 acquisitions
announced since 2004.

In May 2023, Bunzl signed an agreement to acquire Leal Equipamentos de Proteção,
a specialised safety distributor in Brazil with a strong own brand portfolio. This
high margin business generated revenue of BRL 216 million (c.£34 million) in 2022
and complements our strong portfolio of safety businesses in Brazil. Completion 
of the acquisition is subject to competition authority clearance.

In April 2023, Bunzl acquired Irudek, a distributor of safety and personal protective
equipment, specialising in fall protection equipment in Spain and with a similarly
strong own brand portfolio. In 2022 the business generated revenue of EUR 17 million(
c.£15 million).

> **Commenting on today’s announcement, Frank van Zanten, Chief Executive Officer
> of Bunzl, said:**
> “I am very pleased to welcome these two businesses to the Bunzl family, both of
> which expand our offering within the safety sector, have strong own brand portfolios,
> and are margin accretive to the Group. Leal meaningfully increases our exposure
> to the attractive industrial sector in Brazil, whilst Irudek broadens our specialism
> in Spain to include fall protection.
> Bunzl has now announced 200 acquisitions since 2004, driving approximately two
> thirds of our revenue growth over the last 10 years. This is a significant milestone
> to have reached and demonstrates our ability to successfully execute and integrate
> value accretive acquisitions as part of our compounding growth strategy. Our pipeline
> is active and our balance sheet remains strong, and we see significant opportunities
> for further acquisition growth to supplement our resilient organic growth.”

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