Bunzl is preparing itself for more acquisitions in future, riding on its recent acquisition of five businesses and improved margins last year.
Bunzl, a UK based Distribution and packaging group, is on acquisition spree. Having acquired five new businesses this year and witnessed an improvement in margins last year, the company is eyeing on more such acqusitions in the time to come.
The newly acquired five new businesses have annualised the revenue of £85m and the organisation is integrating at a faster rate. Bunzl has asserted that it would continue to pursue its strategy of acquisition.
The company has expected the revenue to be up around 2% on the £4.6bn results a year ago, though its UK sales had fallen. The profit improvements in the UK and Ireland packaging business were driven by cost reduction initiatives and more favourable exchange rates, which had shown an impact on the first half of 2009 fiscal.
The company has anticipated that the current business move would enable it to finalise more transactions in the time to come. The firm has posted growth in sales in North America and Brazil and also tasted some improvement in Australasia.