Feb 26 (Reuters) - Britain's Bunzl said on Monday it had bought catering equipment and consumables distributor Nisbets in the UK for 339 million pounds ($429.48 million), and that its operating margin this year would be slightly below 2023 levels.

The London-listed company will own about 80% of Nisbets, a family-owned company operating in the UK and Ireland, as well as in Northern Europe and Australia.

Bunzl said it witnessed a slower-than-expected start to 2024 in its biggest market North America, but expected to deliver a slight growth in total revenue helped by a slew of acquisitions made last year.

The company, which sells products ranging from plastic spoons to gloves and other personal protective equipment, has been hit by lower sales volumes in North America as destocking and inflationary pressures hamper demand in the food service sector.

In 2023, Bunzl signed 19 different businesses to add to its portfolio. The company said on Monday it had also acquired Finland-based company Pamark.

For the year ended on Dec. 31, the company reported a 4.4% rise in adjusted profit before tax, while revenue slipped 2%.

($1 = 0.7893 pounds) (Reporting by Anchal Rana in Bengaluru; Editing by Subhranshu Sahu)