Bunzl plc has acquired a further business in the US. Joshen Paper & Packaging, which is based in Cleveland, Ohio and operates from a number of locations across 11 states in the US, is engaged in the distribution of packaging and other goods not for resale to customers operating principally in the grocery sector. Revenue is expected to be approximately GBP 225 million in 2020.
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.