The sale is the second major disposal in the last few weeks and follows the company’s decision last month to offload its scaffolding business Beaver 84 to the Altrad Group.
SIG Safety and Workwear distributes personal protection equipment 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.
Chris Davies, chief executive of Sheffield-based SIG, 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.”