Bunzl to Buy Unisource Division
ent company of Bunzl Distribution USA here, has signed a letter of intent to acquire the Grocery Supply Systems division and other related U.S. grocery supply business of Unisource Worldwide, Berwyn, Pa.
The acquisition would be made for a cash consideration of approximately $88 million, financed from Bunzl's own resources, according to a statement from the company. The sale is expected to be completed by Sept. 30, pending the signing of a definitive agreement and normal regulatory approvals.
Bunzl Distribution USA, a wholly owned subsidiary of Bunzl plc, supplies supermarkets with disposable paper and plastic packaging supplies. Unisource also distributes and supplies disposable products to the supermarket industry. According to the statement, net assets of the Unisource division to be acquired by Bunzl are about $60 million.
