Date: Wednesday 04 Jul 2012
LONDON (ShareCast) - Distribution and outsourcing firm Bunzl has acquired MMH Holding, which trades under the name Distrimondo, the Swiss group involved in the distribution of food-service disposables and cleaning and hygiene products.
Distrimondo will be acquired from Markus Meier, Daniel Meier and Reto Hofmann for an undisclosed sum.
The business, based near Zurich, generated revenues of 17.3m Swiss francs in 2011 and the gross assets acquired were valued at 16m francs by the end of that year.
"The acquisition of Distrimondo extends our operations in Switzerland which is a key market that we entered in 2010 with the purchase of Weita, said Chief Executive Michael Roney.
The business has a strong customer base and a leading position in the sectors in which it competes. We are pleased to welcome their employees to Bunzl."
Bunzl was trading 0.47% higher at 1,074p by 15:46 on Wednesday.
BC