Bunzl acquires Steiner Industries
Bunzl plc announced that it has acquired Steiner Industries, the Chicago-based distributor of personal protective equipment.
The announcement was made in the company's six-month financial statement issued Aug. 24.
"In our business serving the safety sector, we have today announced that we have acquired Steiner, a Chicago-based supplier of safety gloves and workwear to distributors in the U.S. who supply the welding and industrial sectors," according to a company statement."This acquisition is our third in the sector since the end of last year when we agreed to acquire Tillman, which is also a distributor of personal protection equipment and supplies for the welding industry. At the end of June we acquired Cordova Safety Products, a supplier of a wide range of personal protection equipment. All three companies have expertise in imports and product development that will help us enhance our growing portfolio of own brand safety products for distributors serving the industrial, automotive and welding markets."
Bunzl, the international distribution and outsourcing Group, said Steiner had revenues of £12 million ($18.8 million) at the end of November 2014.
Bunzl reported sales of £3.1 billion ($4.9 billion) for the first six months of the year, a 7 percent increase compared to last year. Profit before tax was £147.1 million ($231.1 million) for the period, up 11 percent.
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