Distribution giant Bunzl buys Australian emergency supplies firm
Distribution giant Bunzl has acquired an Australian emergency response supplies business, the company announced this morning, as it confirmed that its full-year expectations remain unchanged.
The London-based company said it had bought Fire Rescue Safety Australia (FRSA) – which serves government departments and mining sector companies – bringing the total amount spent on acquisitions this year to £120m.
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In a trading update this morning Bunzl, which has bought three companies in 2019, said the acquisition pipeline is active, and discussions with potential targets are ongoing.
FRSA, which is based in Perth and operates from five locations across Australia, generates annual revenue of approximately £19m.
Bunzl chief executive Frank van Zaten said: “FRSA has a market leading position in the provision of emergency response solutions in Australia and further expands and develops the scope of our operations there.
“We are delighted to welcome their employees to the group.”
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Bunzl said its expectations for the year ended 31 December are unchanged, with overall trading consistent with the slowing underlying revenue growth.
Group revenue for the year is expected to have increased between two per cent and three per cent this year at actual exchange rates. At constant exchange rates, revenue is expected to be up one per cent.