Bunzl completes new deal on US services

Specialist international distribution and services group Bunzl said it had agreed terms with its largest customer by revenue to continue to support the company with value-added distribution services across the US.

There would be no material change to revenue and profit attributable to the contract with the unnamed customer, although agreed terms significantly reduce Bunzl's sensitivity to product and operating cost movements, it added on Thursday.

Bunzl added that it completed the acquisition of Grupo R. Queralto in December 2022. The company is a online distributor of healthcare products based in Spain with a strong own brand portfolio. In 2022 the business generated revenue of €27m (£23m).

Reporting by Frank Prenesti for Sharecast.com