Livingstone’s Business Services sector team has advised the shareholders of Tecnopacking, SLU, a leading Spanish B2B distribution company focused on industrial packaging supplies, on its sale to FTSE 100 listed Bunzl plc. Terms of the transaction were not disclosed.
Created in 1992 in Onda (Spain), Tecnopacking is a family business which has evolved into a leading distributor of industrial packaging supplies, and shipment protection. Tecnopacking’s product portfolio also includes big bags, and supplies for the foodservice sector such as cling film, aluminium foil and disposables. In 2016, the company registered sales of €38m.
Bunzl is a UK multinational specialising in the full distribution of non-food items that are essential in the daily activity of companies. Bunzl’s main divisions in Spain are dedicated to cleaning and hygiene, foodservice, workwear and personal protection equipment.
The sale of Tecnopacking is the fourth transaction on which Livingstone has advised involving Bunzl as a strategic acquirer, after advising the sale of Faru in 2015; Marca in 2008; and Iberlim in 2007.
Steven Lewis, Partner at Livingstone, commented: “Livingstone is delighted to have provided corporate finance advice to the shareholders of Tecnopacking in the sale of their company to Bunzl plc. The purchase of Tecnopacking by Bunzl will allow the shareholders and employees of the company to expand on and improve the quality service that it currently provides to its nationwide network of customers.”
Barry Sheehan, Associate Director at Livingstone, also added: “Tecnopacking is a leading provider of industrial packaging supplies and represents an excellent platform for Bunzl to broaden their offering in the Spanish market. We are confident Tecnopacking will be a highly successful acquisition for Bunzl.”