Bunzl buys Norwegian outfit and boosts revenues
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International distribution specialist Bunzl (LON:BNZL) saw its revenues grow by 12% to £4.34 billion during the six months ended 30th June. Pre-tax profits also improved by 8% to £197.3 million and the interim dividend was raised by 9% to 15.2p.
The business also announced the acquisition of Enor AS, its first business in Norway, for an undisclosed consideration. Enor AS earned revenues of roughly £27 million during the last financial year.
Chief executive Frank van Zanten commented that: “The acquisition of the Enor group is an exciting development for Bunzl as it represents our first acquisition in Norway and means that we now have operations in 31 countries globally. The business has a leading position in the catering equipment market and further extends our business in Scandinavia where we already have a strong presence in Denmark. We are pleased to welcome their employees to the Group.”
Shares in the company had climbed by 1.1% to 2,386p (as of 9:25 BST).
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