Wednesday, March 29, 2023

Pérez-Llorca, Garrigues advise on Bunzl´s acquisition of Queraltó

Pérez-Llorca has advised UK´s Bunzl, a specialist international distribution and services group on its acquisition of Seville-based Queraltó, specialising in the online sale of medical and orthopaedic equipment


Bunzl, a company specialising in the supply of products and equipment to other companies and public administrations, completed its acquisition of Spain´s R. Queraltó group. Queraltó is Seville-based company specialising in the online sale of medical and orthopaedic equipment.

Last year, this family-owned company instructed Alantra to find a partner to support its growth plans. After sounding out various industrial groups and private equity funds, Bunzl finally came up with the best proposal.

Queraltó is a fast-growing online distributor of healthcare products based in Spain with a strong own brand portfolio. In 2022 the business generated revenue of EUR 27 million (c.£23 million).

Frank van Zanten, Chief Executive Officer of Bunzl, said: “I am pleased to welcome Queralto to the Bunzl family, a business that is highly complementary to our healthcare business in Spain and further enhances our own brand portfolio. Overall, 2022 was another successful year for Bunzl’s compounding growth strategy, with agreements to acquire 12 businesses across a range of different sectors and countries, highlighting the breadth of our opportunity.”

“The Queraltó Group is highly complementary to our healthcare business in Spain and strengthens our brand portfolio,” he added.

R. Queraltó, founded in 1898, is currently present in 15 markets and 35% of its revenues come from abroad. Before its integration into Bunzl, it aimed to accelerate its international expansion to 30 countries and to reach a turnover of €101 million by 2025.

Bunzl, which has a market capitalisation of £10.2bn (about €11.8bn), has strengthened its healthcare division in Spain in recent years. In 2021, it acquired two Spanish companies that distribute personal protective equipment (PPE), among other materials: the Aragonese company Proin Pinilla and the Galician company Arprosa. With these transactions, Bunzl strengthened its position in a market in which it was already present through its occupational safety division.

Pérez-Llorca advised Bunzl with a Corporate team including partner Carmen Reyna and lawyers Ángel Martín, Diego Muro, Paula Quintillán, Javier Ihatsu and Isabella d’Empaire, an IP/TMT team with lawyer Álvaro Martínez Crespo, a Labour team including partner Isabel Moya and lawyers Marta Salamanca and María Olabarría, a Regulatory team formed by partner Natalia Olmos and lawyer Cristina Caínzos, and a Tax team comrpising partner Norma Peña and lawyers Sergi Aguilar and Claudia Vallverdú.

Garrigues advised Queraltó with a Seville office Corporate/Commercial team made up of partner Luis Collado, together with senior associate Pilar del Peso and associate Teresa Velázquez.

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