Bunzl (LSE:BNZL) announced it has acquired 100% of Wessex Cleaning Equipment and Janitorial Supplies, a UK distributor of cleaning and hygiene products, janitorial supplies and cleaning equipment that generated revenue of £11m in the year to 31 March.
The London-listed distribution and services group said the deal strengthens its position in the UK cleaning and hygiene market, widens its geographical coverage and bolsters its offering in both product supply and cleaning equipment sales and hire.
"I am pleased to welcome Wessex to Bunzl," said chief executive Frank van Zanten, adding that the business "has built an excellent reputation for customer service, technical expertise and strong local relationships."
The Wessex deal extends a run of bolt-on acquisitions Bunzl has completed this year, following Scientifix in Australian healthcare, Ghessu Bath in Spanish hospitality, and Blueleaf Care, a UK care and nursing home products distributor bought earlier this month.
Bunzl had adjusted net debt to EBITDA of 1.8 times at its half-year results, below its 2.0 to 2.5 times target range, leaving balance-sheet headroom it has said it intends to use for further bolt-on deals alongside its ongoing £500m share buyback programme.
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