Bunzl launches £500 million share buyback programme

Bunzl launches £500 million share buyback programme

Bunzl PLC (LSE:BNZL) has launched a £500 million share buyback programme to return excess cash to shareholders while retaining capacity for further bolt-on acquisitions.

The distribution and services group said the programme will run over the next 12 months and is consistent with its capital allocation policy, which balances shareholder returns with investment in high-return acquisitions.

An initial tranche has started today and will run until no later than 22 December 2026.

Under this first phase, Bunzl will repurchase up to 32.4 million ordinary shares for a maximum consideration of £250 million.

The shares acquired will be used to reduce the company’s issued share capital.

J.P. Morgan Securities PLC has been appointed to execute the first tranche under an irrevocable, non-discretionary agreement.

JP Morgan will make trading decisions independently of Bunzl and will purchase shares on the London Stock Exchange or another recognised investment exchange before selling them on to the company.

Bunzl said the programme has been structured in accordance with the Financial Conduct Authority’s UK Listing Rules and its existing shareholder authority to repurchase shares.