Visy announced today it had acquired Zenexus, a privately owned supplier and distributor of moving and storage boxes, major brand hardware and retail products.
It is one of the largest suppliers to Bunnings and the deal will mean additional annual revenues of $170 million for Visy.
Visy Executive Chairman Anthony Pratt said “the purchase will allow Visy to join our sister company Pratt Industries in the US with a dedicated, retail-facing business unit called Visy Retail Services.”
Zenexus owns household names such as FlexiStorage, RackIt and Wrap&Move and sells its products exclusively through Bunnings (Australia and New Zealand) and HomeBase (United Kingdom).
Those brands will remain unchanged and continue to be sold through Bunnings and HomeBase.
Zenexus' 160 employees can all transition to roles in Visy Retail Services.
For further information, contact: media@visy.com.au.
