MACFARLANE GROUP
Acquisition of Online Packaging adds to distribution network / Complementary business
Packaging manufacturer and distributor Macfarlane Group (Glasgow / UK; www.macfarlanegroup.net) has paid GBP 5.1m (EUR 6.9m) in cash for packaging materials supplier, Online Packaging (Quedgeley, Gloucester / UK; www.onlinepackaging.co.uk). GBP 4.3m is being paid immediately, with the deferred sum payable in 12 months time subject to Online meeting certain trading targets in 2008.
Founded in 1990, Online is a distributor of a wide range of packaging, including corrugated cases, PE bags, stretch and shrink film and strapping. It made a pretax profit of just over GBP 0.5m on a turnover of GBP 7.5m in the year to 31 August 2007. Macfarlane says the acquisition complements its own distribution activities, particularly in southwest England and Yorkshire, where Online has three depots. In 2006 Macfarlane had a turnover of GBP 130m.
Founded in 1990, Online is a distributor of a wide range of packaging, including corrugated cases, PE bags, stretch and shrink film and strapping. It made a pretax profit of just over GBP 0.5m on a turnover of GBP 7.5m in the year to 31 August 2007. Macfarlane says the acquisition complements its own distribution activities, particularly in southwest England and Yorkshire, where Online has three depots. In 2006 Macfarlane had a turnover of GBP 130m.
21.01.2008 Plasteurope.com [209986]
Published on 21.01.2008