Bunzl PLC, the international distribution and services group, has announced its first acquisition in Poland and an acquisition in the Netherlands. In Poland, Bunzl has signed an agreement to acquire Safety First, one of the largest distributors of Personal Protective Equipment products in the country. Safety First generated PLN 121 million (c.£22 million) of revenue in 2022. The completion of the acquisition is subject to competition authority clearance. In the Netherlands, Bunzl has acquired EcoTools.nl, a specialist online distributor of tool accessories and industrial consumables. EcoTools generated revenue of EUR 20 million (c.£17 million) in 2022.
Frank van Zanten, CEO of Bunzl, commented on the acquisitions, stating, "I am pleased to announce two more additions to the Bunzl family today, taking our total to twelve acquisitions announced so far this year. I am particularly pleased that the acquisition of Safety First will be Bunzl's first in Poland, increasing the total number of countries that we operate in to 32. EcoTools is a fast-growing online distributor, which complements other online-focused businesses within our portfolio and further strengthens the Group's digital capabilities."
Bunzl's acquisition momentum has been strong this year, with a total committed spend of over £350 million. The company has significant headroom to continue self-funding value-accretive acquisitions, and its pipeline remains active.