Acquisition of Ecopac (UK) Limited
7 May 2019
Macfarlane Group announces acquisition of Ecopac (UK) Limited
Macfarlane Group PLC ("Macfarlane") is pleased to announce the acquisition of Ecopac (UK) Limited ("Ecopac"), a protective packaging distribution business based near Aylesbury, Buckinghamshire. The acquisition is in line with Macfarlane's declared strategy of building the business through a combination of organic and acquisitive growth.
Macfarlane's wholly-owned subsidiary, Macfarlane Group UK Limited, has acquired 100% of Ecopac for a maximum cash consideration of £3.9 million (including an earn-out of £0.8m). In the year ended 31 March 2018, Ecopac generated sales of £6.0 million and pre-tax profits of £0.5 million.
Ecopac focuses principally on customers within a close radius of its 60,000 sq. ft. facilities near Aylesbury and is expected to benefit from access to Macfarlane's extended range of protective packaging products and services.
Ecopac has an experienced team of 21 employees all of whom will remain with the business following the acquisition.
Peter Atkinson, Chief Executive of Macfarlane, said:
"Ecopac is a well-run, profitable packaging business that meets our strict acquisition criteria and will be earnings-enhancing in its first full year in the Group. I am confident that the business will prove to be an excellent acquisition improving our geographic penetration and extending our customer reach."
Tel: 0141 333 9666
Stuart Paterson Chairman
Peter Atkinson Chief Executive
John Love Finance Director
Tel: 0141 548 5191
Mob: 07803 970103
Notes to Editors:
· Macfarlane Group PLC is listed on the London Stock Exchange (LSE: MACF) in the Industrials Sector
· The company is headquartered in Glasgow, Scotland and has more than 70 years' experience in the UK packaging industry
· Macfarlane Group's businesses are:
o Macfarlane Packaging is the leading UK distributor of a comprehensive range of protective packaging products
o Labels designs and prints high quality self-adhesive and resealable labels, principally for FMCG companies
o Packaging Design and Manufacture designs and produces protective packaging for high value, fragile products
· Macfarlane Group employs over 900 people at 30 sites, principally in the UK, but also in Ireland and Sweden.
· The company has 20,000+ customers in the UK, Europe and the USA providing 600,000+ lines to a wide range of industry sectors including: consumer goods; food manufacturing; logistics; internet retail; mail order; electronics; defence and aerospace.
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