UK outsourcing group eyes India acquisitions
London, May 17, 2014
British outsourcing group Bunzl is on the lookout for acquisitions in India, its chief executive said yesterday, and is ready to pounce when it finds the right opportunity to tap into the world's 10th-largest economy.
The distributor of products such as carrier bags and food packaging to clients including retail giant Wal-Mart has been on a steady acquisition drive, spending £1.7 billion ($2.86 billion) on 80 deals over the past 10 years.
Bunzl has conducted research into possible opportunities in India, Michael Roney said, but the company is waiting for the right time to move into the market.
"It's certainly one that would be on our list if there was a good opportunity," he said.
A move into India would add to the 27 countries in which Bunzl operates, but Roney maintains that he does not like to set targets for where or when to move into new markets.-Reuters