Fri, 08 Apr 2016 | BUSINESS SALE
A Glasgow-based packaging group has secured its fourth acquisition in two years, as it continues its buy and build strategy.
The Macfarlane Group has acquired rival packaging firm Colton Packaging Teeside in a deal worth £1.25 million. The latest acquisition marks the group’s fourth purchase since 2014, as it seeks to consolidate a rather fragmented packaging market.
Colton Packaging Teeside, which is based in Thornaby near Middlesbrough, was an established regional distributor of protective packaging materials for rival group Colton Packaging, which is located in Leicester. In 2015 alone, Colton Packaging Teeside reported sales in the region of £3 million.
The deal will see the Macfarlane Group pay an initial sum of just over £1 million for Colton Packaging Teeside, with a further £200,000 promised if the packing firm achieves its “key financial objectives” within the first 12 months following the acquisition.
The Macfarlane group previously acquired Network Packaging and Lane Packaging in 2014, and in August 2015, it also bought up Nottingham-based firm One Packaging Limited.
Peter Atkinson, chief executive of Macfarlane Group, said of the latest deal: “Colton Packaging Teesside is a high-quality business with an excellent 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.”
For more information about successfully sourcing, approaching and buying a rival business, see the guide to Acquisition Strategy.
Indicative offers are required by 12:00hours on Monday 20 January 2020 with a view to completion shortly thereafter. The proposed Joint Administrators are seeking parties interested in the business and assets of a Company that trades as a recruitment...
LEASEHOLD
Offers and proof of funding sought by 17:00hours on Friday 24 January 2020. The Joint Administrators are seeking parties interested in the business and assets of a commercial contractor business based in the Midlands.
Provides highly skilled and professional hospitality staff across a variety of sectors. Recognised as both a preferred and top tier supplier for several of its prestigious clients. Supplying both temporary and permanent Nationwide staffing solutions....
LEASEHOLD
|
17
|
|
Jan
|
Sample book and shade card manufacturer acquired from administration | BUSINESS SALE
The business and assets of Yorkshire-based display products ...
|
16
|
|
Jan
|
Northgate and Redde shareholders approve merger | MERGER
The proposed merger of listed companies Northgate and Redde ...
|
15
|
|
Jan
|
SSE sells retail business to OVO Energy | DIVISION SALE
Power utility SSE has announced it has completed the sale of...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources