Bunzl PLC Acquires McCordick Glove & Safety Inc.
19 Dec 2012
Bunzl plc, the international distribution and outsourcing Group, today announces that it has made two further acquisitions in Canada and Australia.
The Company has acquired the business of McCordick Glove & Safety Inc in Canada. Based near Toronto, McCordick is a distributor of gloves and other personal protection equipment to a variety of industrial and retail customers as well as to redistributors. Revenue in the year ended 31 December 2011 was C$53.0 million.
Bunzl has also acquired Atlas Health Care Pty Limited in Australia. Based in Adelaide, the business is principally engaged in the supply of medical consumables to the healthcare sector. Customers include nursing homes, hospitals and medical centres throughout South Australia and Victoria. Revenue in the year ended 30 June 2012 was A$21.9 million.
Commenting on the acquisitions, Michael Roney, Chief Executive of Bunzl, said:
"McCordick Glove enables us to enter the personal protection equipment sector in Canada which is a product area where we have already been very successful in a number of countries. It has a varied and successful range of own brand products which will enhance the Company’s existing safety product offering.
Atlas Health Care is an excellent addition to our existing healthcare supplies operations in Australia and gives us an enhanced market position in this growing sector. It will also allow us to expand their extensive product offering to our current healthcare customers.
We are delighted to welcome all employees of both businesses to Bunzl."
Michael Roney, Chief Executive
Brian May, Finance Director
Tel: 020 7725 5000
Tel: 020 7353 4200
"Based near Toronto....". I hate them!
lol. Does anyone have any connections to McCordick? I'm curious to see if the company will stay active in Kitchener or if the work will be, well, outsourced...
The original shareholders of McCordick are still employees and the former President is remaining as General Manager. There have been no changes in management or staffing since the acquisition. Of course, no one can predict the future. Bunzl, has in fact acquired 3 more companies recently so they certainly have significant growth plans.