Elliott Investment Management Stakes Claim in Bunzl

Elliott Investment Management has acquired a 5% stake in Bunzl, becoming one of its biggest investors. Elliott aims for a share buyback and a review focused on North American operations to boost valuation. Bunzl's shares rose on the news, reflecting an active investor sentiment.

U.S.-based activist investor Elliott Investment Management has acquired approximately 5% of British business supplies distributor Bunzl, spurring a nearly 4% rise in Bunzl's share price on Monday, sources reveal.

This transaction positions Elliott among the top stakeholders in Bunzl, joining the ranks of Schroder Investment Management, its largest shareholder, and others such as Mawer Investment Management and Capital Research Global. Elliott is advocating for a buyback of shares worth up to 10% of Bunzl's market capitalization within the next year and is urging a strategic review of its North American business to enhance the group's valuation.

Bunzl, which experienced a stock uptick of 2% to 2,632 pence, aims to revitalize its North American revenue streams amid margin pressures due to subdued demand. Despite geopolitical challenges, the company posted a 2% increase in first-quarter revenue, maintaining its outlook for 2026.