Bunzl sees 8-9% FY revenue growth; buys Danish company
Bunzl
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11:19 25/04/24
Logistics company Bunzl said full year group revenue for the year is expected to increase by between 8% - 9% at constant exchange rates due to organic growth of more than 4% and a similar impact from acquisitions, net of disposals.
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Currency translation movements were expected to reduce constant exchange revenue growth by between 3% and 4%.
Bunzl also said it has recently acquired CM Supply, a foodservice distributor based in Copenhagen, Denmark for an undisclosed sum.
The business is principally engaged in the supply of own brand and customised foodservice disposables and packaging to customers operating in the hotel, restaurant and catering sector and is forecast to achieve revenue in 2018 of DKK 37m (£4m).
Bunzl said its proposed acquisition of Volk do Brasil, announced on October 23, had been cleared by the Brazilian competition authority and was expected to be completed at the beginning of January 2019.