Bunzl Plc (BZLFY.PK,BNZL.L), a British distribution and outsourcing firm, said on Tuesday that it has agreed to sell its UK healthcare division to Mediq, a Dutch healthcare firm, for an undisclosed sum.
In 2021, the division had reported revenue of 216 million pounds.
In addition, the company has also announced the acquisition of four businesses.
The company said these deals are earnings-neutral to the company.
Frank van Zanten, CEO of Bunzl, said: The announced acquisitions are highly complementary, expand our product offering in each country, and all achieve double digit margins, with their profits offsetting the expected profit contribution from the announced disposal…”
In November, the Group acquired Toomac Ophthalmic & Solutions, a distributor of ophthalmology products in New Zealand. For the fiscal to March 2022, the business had generated revenue of NZD 11 million or around 6 million pounds.
In October, Bunzl signed an agreement to buy GRC, an Australian distributor of innovative medical technology devices with revenue of AUD 4 million or circa 3 million pounds for the 12-months to June 2022.
Both businesses are focused on surgical products and are expected to broaden the offering in Bunzl’s healthcare business in the region.
In October, Bunzl bought VM Footwear in Czech Republic. For the year to June 2022, the footwear firm had reported CZK 366 million or 13 million pounds in revenue.
In November, Bunzl also completed the acquisition of PM Pack, a company focused on food packaging products in Denmark. For the year to September 2022, the business had posted revenue of DKK 142 million or circa 16 million pounds.
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