Business
Bunzl buys Swiss food- and healthservice supplierSimeon Goldstein, 15 March 2010Be the first to comment on this article Packaging and distribution group Bunzl is planning further expansion in Switzerland after acquiring Weita Holding for an undisclosed amount. Weita is located near Basel and supplies a wide range of products to the cleaning, foodservice, retail and health sectors generating sales of CHF70.9m (£44.4m) in 2009. The assets acquired from owner Christoph Huber are estimated to be worth CHF47m, Bunzl said in a statement this morning. Bunzl chief executive Michael Roney said the acquisition extended Bunzl into the Swiss cleaning and safety, foodservice and healthcare sector and “significantly increased” its retail supplies business. “Weita has a strong position in its markets, has a reputation for excellent customer service and will provide a base to develop further our business in Switzerland. We welcome all of their employees to the group,” said Roney. The acquisition comes less than a month after Bunzl revealed the strong US dollar had helped it to a 6% increase in pre-tax profit last year, despite falling sales in the UK and Ireland. Speak Your Mind |
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