Bunzl buys US firm for undisclosed sum
Distribution specialist Bunzl said it had bought US firm Joshen Paper & Packaging for an undisclosed sum.
Based in Cleveland, Ohio, Joshen operates from a number of locations across 11 states in the US, and delivers packaging and other goods not for resale to customers operating in the grocery sector.
Revenue was expected to be approximately £225m in 2020, Bunzl said.
“As a grocery business, Joshen's operating margin is below the average for the company's North America business area. The company anticipates that it will realise a number of synergies over the next few years,”it said in a statetment.