Macfarlane expands South West presence with latest acquisition Richard Stuart-Turner Thursday, April 1, 2021
Macfarlane Group has acquired a protective packaging distributor to boost its customer reach in the South West of England.
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In the deal completed yesterday evening (31 March), Glasgow-headquartered packaging giant Macfarlane’s wholly-owned subsidiary, Macfarlane Group UK, acquired 100% of Carters Packaging (Cornwall), the owner of Carters Packaging, for a maximum cash consideration of £4.5m, including an earn-out over two years of £1.5m.
Based in Redruth, Carters focuses principally on customers within Cornwall and Devon from its 2,323sqm premises, which Macfarlane has taken on a lease for.
Macfarlane has made a further latest acquisition By Scott Wright GLASGOW-based Macfarlane Group has clinched its first acquisition since the pandemic took hold, lifting shares up more than six per cent. The acquisitive packaging company has struck a deal to take over GWP Group of Wiltshire, a protective packaging manufacturing and distribution business, in a cash deal worth up to £15.1 million. It is the first deal to be sealed by Macfarlane since the addition of Armagrip in January 2020, and the fourteenth to be completed by chief executive Peter Atkinson since he joined the group in 2003. The firm is hopeful of making a further acquisition this year.