Bunzl plc, the international distribution and outsourcing Group, has entered into an unconditional agreement to acquire Cannon Consumables from OCS Group UK Ltd. Completion of the acquisition will take place at the end of March following a period of employee consultation.
Operating from four locations, Cannon Consumables is principally engaged in the supply of cleaning and hygiene consumable products to OCS as well as to a number of other customers throughout the UK.
As a key element of the sale, an agreement has been entered into with Bunzl under which they will supply products previously supplied by Cannon Consumables to OCS customers. Following the completion of the sale, OCS has agreed to work closely with Bunzl for a transitional period during which the Cannon Consumables business will continue to be supported by the existing operational and sales functions to ensure normal service to customers is maintained.
OCS Group UK Managing Director Martin Gammon said: ‘I am delighted to announce this agreement with Bunzl and look forward to working in partnership with them in the future. I firmly believe that this transaction will ensure OCS customers continue to receive the best possible service from a market leading organisation.’