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Pin to quick picksMacfarlane Grp. Share News (MACF)

Share Price Information for Macfarlane Grp. (MACF)

London Stock Exchange
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Share Price: 86.20
Bid: 85.20
Ask: 87.60
Change: -0.40 (-0.46%)
Spread: 2.40 (2.82%)
Open: 85.20
High: 88.00
Low: 85.20
Yest. Close: 86.80
MACF Live PriceLast checked at -

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Macfarlane buys packaging distribution business Ecopac for up to ?3.9m

Tue, 7th May 2019 13:48

(Sharecast News) - Packaging and label company Macfarlane has bought Buckinghamshire-based protective packaging distribution business Ecopac for up to £3.9m in cash.

The group said the deal was in line with its strategy of building the business through a combination of organic and acquisitive growth.

The acquisition was made through Macfarlane's wholly-owned subsidiary, Macfarlane Group UK Limited.

In the year to the end of March 2018, Ecopac - which focuses mainly on customers within a close radius of its facilities near Aylesbury - generated sales of £6m and pre-tax profits of £0.5m.

Macfarlane said all of Ecopac's 21 employees will remain with the business after the acquisition.

Chief executive Peter Atkinson 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."

1345 BST, the shares were up 1.7% at 103.50p.

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