Bunzl snaps up promotion firm

DISTRIBUTION and outsourcing group Bunzl yesterday reported first-quarter revenue and operating margins that were in line with forecasts made in February.

Bunzl, which has its largest market in the USA and is headquartered in London, said it saw a 10 per cent increase in revenue compared to last year at constant exchange rates.

The company also announced its third acquisition for 2013 with the purchase of Michael Davies and Associates Limited, a promotional and point of sale products business based in Blackburn that reported £22m in revenue for 2012.