Distribution and outsourcing group Bunzl is set to acquire Turkish plastics packaging firm Bursa Pazarı for £32 million (approximately €44 million).
According to PackagingNews.co.uk, the deal, which is dependent on permission from the Turkish competition authorities, will see Bunzl acquire 80 per cent of Bursa Pazarı, with an option to buy the balance in the future.
Bunzl’s chief executive, Michael Rony, commented, "The proposed acquisition of Bursa Pazarı is an important development for Bunzl, as it will extend our operations in Turkey, a market that we entered for the first time in May 2015, into the foodservice and health-care sectors."
Bursa Pazarı currently supplies plastic bags, metallic packaging, foodservice supplies and disposable gloves to the Turkish retail, catering and hospitality sectors, as well as the health-care industry.
The news comes as Bunzl completes two other acquisitions: Brazilian health-care product supplier Dental Sorria, and US bag manufacturer Earthwise Bag Company.
© 2016 European Supermarket Magazine – your source for the latest retail news. Article by Jenny Whelan. To subscribe to ESM: The European Supermarket Magazine, click here.
