Bunzl buys into German incontinence market
International distribution and outsourcing group Bunzl announced two fresh acquisitions in Germany on Thursday.
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The FTSE 100 firm confirmed it has entered into an agreement to acquire both Mo Ha Ge Mommsen Handelsgesellschaft mbH and Inkozell Zellstoff-Vertrieb GmbH.
Both businesses are based in Berlin, and are in the healthcare-related consumables field - primarily incontinence products - to a variety of home end users and care homes.
The aggregate revenue of the businesses in the year to 31 December was €22m.
"The purchase of Mo Ha Ge and Inkozell is an important development for Bunzl as they both expand the group's healthcare related operations in Germany, being a sector that we entered there in 2014 with the acquisition of Bäumer,” said chief executive Frank van Zanten.
“We welcome all of their employees to the group."
Completion of the acquisitions was expected by the end of May, subject to approval by the German competiotion authority Bundeskartellamt.