StockMarketWire.com - Distribution and services group Bunzl said it had acquired Joshen Paper & Packaging to expand its presence in the grocery sector and further enhanced its operations in the US.

Joshen Paper & Packaging operated from a number of locations across 11 states in the US and was engaged in the distribution of packaging and other goods not for resale to customers operating principally in the grocery sector,' the company said.

Revenue was expected to be approximately £225m in 2020.

'As a grocery business, Joshen's operating margin is below the average for the Company's North America business area,' Bunzl said. 'The company anticipates that it will realise a number of synergies over the next few years,' it added.




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