United Kingdom-based packaging distributor Bunzl plc has announced three acquisition, including a U.S. maker of reusable bags.
Bunzl announced in a Feb. 29 news release that it has acquired Earthwise Bag Co. of Burbank, Calif.; dental products supplier Dental Sorria Ltda. of Belo Horizonte, Brazil; and has a pending deal to buy Turkish plastics packaging company Bursa Pazari Inşaat Sanayi ve Ticaret.Terms of the purchase of Earthwise and Dental Sorria were not announced.
Earthwise makes reusable bags using DuPont Co.'s Tyvek olefin sheet as well as nonwoven bags using PET and polypropylene. It had $18 million in sales in 2015. Bunzl, based in Croyden, England, said the purchase expands its offerings of environmentally friendly products.Bunzl will spend 131 million Turkish lira ($45.1 million) to purchase Bursa Pazari.
Istanbul-based Bursa Pazari supplies a range of plastic bags, metallic packaging, foodservice supplies and disposable gloves to local wholesalers, retailers and hospitals, as well as customers overseas.
The deal is dependent upon consent from Turkish competition authorities and initially sees Bunzl acquire 80 percent of Bursa Pazari, with an option to buy the balance in the future.