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Bunzl (BNZL) Acquires New Zealand Based Obex Medical Holdings

Updated: 18 May 2021

Tuesday morning has seen specialist international distribution and services group Bunzl (LON: BNZL) announce the acquisition of Obex Medical Holdings.

Obex is a medical distribution business serving hospitals and other healthcare providers in New Zealand, supplying a broad range of healthcare equipment and devices.

In 2020 the Auckland based firm's revenue was approximately £27 million.

Completion of the acquisition is expected to take place at the beginning of June.

Commenting on the deal, Frank van Zanten, CEO of Bunzl, said: “I am pleased to be able to announce our fourth acquisition of 2021. Obex Medical Holdings is a strong business with an experienced management team that will complement and enhance Bunzl's healthcare capabilities in Australasia.

“The Group's acquisition pipeline remains active and a number of discussions are ongoing.”

Bunzl's share price is trading slightly below Monday's closing price at 2,316p.

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