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Bunzl expects higher full-year revenue, buys Danish food-service firm

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By Reuters

(Reuters) – Business supplies distributor Bunzl Plc <BNZL.L> expects full-year revenue to rise 8 to 9 percent at constant currency rates, it said, as a series of acquisitions and a growing North American clientele drive gains.

Bunzl is known for making small acquisitions aimed at growing specific parts of its business, and on Thursday the London-listed firm announced it had bought Danish food-service distributor CM Supply for an undisclosed sum.

Bunzl, which supplies companies with disposable tableware, personal protection equipment, cleaning chemicals and a range of other products and services, said its business was performing in line with expectations outlined in October.

Although the pace of Bunzl’s acquisitions has slowed after a record deal-making year in 2017, Bunzl has benefited from growth at its North America unit, which saw revenue rise 10 percent in the first half of the year.

On Thursday Bunzl also confirmed that Brazilian authorities had cleared its deal to buy Volk do Brasil, a wholesale distributor of vinyl and latex gloves with expected annual revenues of $52 million (41 million pounds).

(Reporting by Karina Dsouza in Bengaluru; Editing by Sai Sachin Ravikumar)