Bunzl Q3 revenues up in line; buys Brazilian peer
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International distribution and services group Bunzl said third quarter revenue increased by 7% at constant exchange rates due to organic growth of around 4% and an impact from acquisitions, net of disposals, of 3%.
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It added that it was buying Volk do Brasil, a distributor of personal protection equipment based in Parana, Brazil, for an undisclosed sum.
The business is forecast to achieve revenue in 2018 of around £41m. Completion of the deal is subject to clearance of the transaction by the Brazilian competition authority, Bunzl added.
Chief executive Frank van Zanten said the purchase would “expand our already well established safety business in Brazil and will complement and strengthen our product offering in the safety sector. We look forward to welcoming their employees to the group".