SIG Safety and Workwear is a leading distributor of personal protection equipment (PPE) and workwear to a variety of market sectors throughout the UK. Revenue in the year ended 31 December 2010 was £22m and the gross assets of the business at completion were £8m.
SIG chief executive Chris Davies said: "We are pleased to announce the sale of our SIG Safety and Workwear to Bunzl plc, who will provide the necessary scale and focus to take the business forward. This divestment, which follows the recent sale of our scaffolding business, is consistent with SIG's key strategic initiative to improve performance by actively managing the Group's portfolio of businesses to focus on our core operations."
Sale of the workwear business comes close on the back of SIG's disposal of its Beaver 84 scaffolding business to the Altrad Group for £7.1m last month.
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