Bunzl PLC on Tuesday announced it has acquired McCue Corp., a Boston-based safety business and a medical supplies distributor with operations in Australia and Singapore. Financial terms of the deal, which closed in “early September,” weren’t disclosed.
The addition of McCue “provides Bunzl with a strong position in this fast-growing market segment,” the company said. “Supported by a strong portfolio of innovative own brand solutions and smart products, McCue specializes in the distribution of products such as safety barriers, floor railings and bumpers, for use in warehouses and high footfall environments spanning sectors such as grocery and e-commerce.”
McCue has operations in Massachusetts, Texas and California, as well as in the UK and other international markets. Bunzl said the company has “delivered very strong double-digit annual growth over the last three years. This trajectory continues, supported by the growth in e-commerce-based distribution activities, the importance of health and safety measures in operating environments and the increasing prevalence of higher value warehouse equipment which increases the importance of asset protection.”
In the 12 months ending July 31, McCue generated revenue of $90 million, predominantly in the U.S.
“The acquisition of McCue represents an exciting expansion of our safety operations in North America and the UK,” said Frank van Zanten, Bunzl CEO. “It is a high-quality business with a strong leadership team and track record, with good opportunities for further growth supported by innovation and international expansion. It demonstrates the range of important value-added products and services the group can provide to customers and our continual focus on evolving our portfolio alongside sector trends.”
Year to date, Bunzl has announced 10 acquisitions totaling £390 million (US$540 million).