Bunzl snaps up £28m-a-year foodservice products supplier

Bunzl

Distribution and outsourcing group Bunzl has snapped up Tri-Star Packaging Supplies, a company which supplies foodservice products to everyone from restaurants to contract caterers.

The Enfield-based outfit, which operates three branches in England and Scotland, is principally engaged in the distribution of food packaging and foodservice products as well as some cleaning and hygiene consumables.

It supplies a variety of end user customers, including ‘food-to-go’ retailers, contract caterers and food processors, throughout the UK.  Last year it made sales of £28m.

Bunzl announced the acquisition after releasing a third quarter trading statement in which it said that its performance was “consistent” with expectations at the time of the publication of its half-year results in August.

At constant exchange rates, group revenue for the third quarter has increased by 7%, with 3% contributed by acquisitions and 4% due to the impact of additional trading days relative to the comparable period last year.

Underlying revenue for the quarter was at a similar level to the third quarter last year. This is consistent with the performance seen in the first half of this year. The recent weakening of sterling has had a “significant positive impact” on the reported results for the third quarter, Bunzl said.

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