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UK-based distribution and outsourcing group Bunzl plc has acquired Singapore-based LSH, a distributor of personal protection equipment, primarily to end users operating in the oil & gas, construction, pharmaceutical and industrial sectors. Revenue in 2016 was S$9 million (US$6.4 million)
“The purchase of LSH represents our first step into Singapore following which we now have operations across 30 countries globally,” said Frank van Zanten, CEO of Bunzl. “The business has a leading position in the local safety market with a broad product offering and well established customers and should provide a good base from which to develop our operations in South East Asia.”
Bunzl also reported sales for 2016 of £7.4 billion (US$7.8 billion), up 14 percent from 2015. Operating profit for the year was £410 million (US$435.2 million) an increase of 12 percent.