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Bunzl’s Acquisition of Nisbets

1 Mins read

Bunzl PLC has recently announced the purchase of an 80% stake in Nisbets, a leading catering equipment distributor, for an initial cash payment of 339 million pounds ($429.6 million).

Expansion Strategy

The distribution-and-outsourcing group has strategically positioned itself to potentially acquire the remaining stake in Nisbets in the future, depending on the company’s financial performance at the time of exercise and certain conditions.

About Nisbets

Nisbets operates as an omni-channel distributor of catering equipment and consumables in regions such as the U.K. & Ireland, Northern Europe, and Australasia. With a focus on providing a wide range of own-brand products to foodservice customers, Nisbets reported revenue of GBP498 million and a profit of GBP40.2 million in 2023.

Additional Acquisition

In addition to the acquisition of Nisbets, Bunzl PLC has expanded its portfolio by purchasing Pamark in Finland, a distributor specializing in cleaning & hygiene, healthcare, foodservice, and safety products. Pamark reported revenue of 56 million euros ($60.6 million) in 2023.

Future Prospects

Chief Executive Frank van Zanten expressed optimism about the company’s growth prospects for 2024, citing the recent acquisitions as a strong start to the year. With an active acquisition pipeline and a solid balance sheet, Bunzl PLC looks poised for continued success.

Keep up with the latest developments by following Ian Walker’s reporting.

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