Bunzl boosted by Norwegian deal

BUNzL has made its first foray into the Norwegian market after snapping up a catering supplies firm, and said further takeovers are on the cards after logging an 8pc jump in profits.

The outsourcing and distribution firm announced on Tuesday that it had acquired Oslobased Enor, which supplies light catering equipment to the likes of hotels, restaurants, hospitals and fast food chains.

The terms of the deal were not disclosed, but Bunzl said Enor logged £27m in revenue in the year to December 31 2017.

Bunzl’s chief executive Frank van zanten said the deal ‘is an exciting development’ for his firm and means it has operations in 31 countries.

The news came as Bunzl released its half-year results, having logged a 5pc rise in half-year revenues to £4.3bn. Pre-tax profits for the half year to June 30 rose 8pc to £197.3m, up from £181.9m during the same period last year.

Van zanten added that other takeovers were now on the cards.