Aug 27, 2020, 10:00 EST
Bronx, United States, Aug 27, 2020, 10:00 /Comserve / -- UK-based Bunzl Plc, a leading distribution and outsourcing company has recently announced that it is planning to acquire two companies namely, MCR Safety and Abco Kovex.
London, August 25, 2020: UK-based Bunzl Plc, a leading distribution and outsourcing company has recently announced that it is planning to acquire two companies namely, MCR Safety and Abco Kovex. However, no financial information has been disclosed for either of the transactions. Through this acquisition, Bunzl Plc aims to enhance its business operations and expand the product portfolio and customer base across the UK and Ireland.
MCR Safety is a US-based company headquartered in Memphis, Tennessee. It is involved in supplying a range of safety equipment of personal brands which includes eyewear, protective gloves, and rain suits, for customers across various industries like construction, automotive, and metal fabrication industries, among others. In addition to the primary U.S. plant in Memphis and another in Arkansas, the organization has operations worldwide including Mexico, Canada, the United Kingdom, the Netherlands, Colombia, and Costa Rica. Lately, MCR and has been making face masks for use during the global coronavirus pandemic.
In 2019, the company reported total revenue of EUR 211 million (USD 248 million) out of which 80% of the revenue was generated by the sales in the US. The acquisition by MCR Safety is expected to be completed by the end of August 2020.
Abco Kovex is a leading manufacturer, importer, and distributor of packaging materials. It is based in Dublin, Ireland with operations present also in the UK. It is involved in the selling of items such as polythene, stretch film, paper packaging, and pallet wrap to a variety of customers in the construction, food, and pharmaceutical sectors. In 2019, the company posted revenue of EUR 23 million. The deal with Abco Kovex is subject to approval of the Irish Competition Authority
According to the half-yearly financial report of Bunzl Plc, the company generated a revenue of EUR 4,846.3 million during H1 2020 as compared to the previous year’s revenue of the same period, which was EUR 4,528.4 million, a growth by 7% Y-o-Y. Clearly, it is evident from the financial report that the company has made a solid growth even during such unprecedented times and thus it is planning to acquire MCR Safety And Abco Kovex to further strengthen its business and expand its footprint across Dublin and US.
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