Slaughter and May is advising Bunzl plc (Bunzl) on its acquisition of an 80% stake in Nisbets Limited and associated entities (Nisbets) for an initial consideration of £339m. An additional earn-out amount may be payable to the sellers, based on Nisbets’ financial performance in 2024. The transaction also includes put and call options that enable Bunzl to acquire the remaining 20% stake in the future, subject to satisfaction of certain conditions. The transaction is subject to customary regulatory approvals.
Founded in 1983 by Andrew Nisbet, Nisbets is an omni-channel distributor of catering equipment and consumables in the UK & Ireland, Northern Europe and Australasia. It has over 1,800 employees and a management team that will remain with Nisbets post-acquisition, with the Nisbet family continuing to hold a minority interest alongside Bunzl