Business
Macfarlane acquires Colton Packaging Teesside
Macfarlane acquires Colton Packaging Teesside.
About this update from Macfarlane Group Plc
[{"type":"text","content":"\n \nRNS Number : 1262U Macfarlane Group PLC 05 April 2016 \n\n5 April 2016\n \nMACFARLANE GROUP ACQUIRES COLTON PACKAGING TEESSIDE\n \nIn line with its strategy to develop its Packaging Distribution business in the UK protective packaging market, Macfarlane Group PLC (\"Macfarlane\") has today confirmed the acquisition of Colton Packaging Teesside.\n \nColton Packaging Teesside is based in Thornaby near Middlesborough and has been established for 20 years. It currently has 8 employees and is the North East branch of Colton Packaging Limited, an established regional distributor of protective packaging materials based in Leicester. In 2015 Colton Packaging Teesside generated sales of c£3.0m.\n \nMacfarlane will pay up to £1.25m for Colton Packaging Teesside assuming key financial objectives are achieved in the 12-month period post-acquisition. Both the initial consideration of £1.05m and the deferred consideration of £0.20m will be paid from existing borrowing facilities.\n \nPeter Atkinson, Chief Executive of Macfarlane, commented \"Colton Packaging Teesside is a high quality business with a good team of people who will complement the Macfarlane Packaging Distribution business based in Newcastle and strengthen Macfarlane's presence in the North East of England.\"\n \n \n\n\n\n\nFurther enquiries:\n\n\nMacfarlane Group\n\n\nTel: 0141 333 9666\n\n\n\n\n \n\n\nGraeme Bissett Chairman\n\n\n \n\n\n\n\n \n\n\nPeter Atkinson Chief Executive\n\n\n \n\n\n\n\n \n\n\nJohn Love Finance Director\n\n\n \n\n\n\n\n \n\n\n \n\n\n \n\n\n\n\n \n\n\nSpreng Thomson\n\n\nTel: 0141 548 5191\n\n\n\n\n \n\n\nCallum Spreng\n\n\nMob: 07803 970103\n\n\n\n\n \nNotes to Editors:\n· Macfarlane Group PLC is listed on the London Stock Exchange (LSE: MACF) in the Industrials Sector.\n· The company has more than 60 years' experience in the UK pac...