Macfarlane Group Acquires Colton Packaging Teesside
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In line with its strategy to develop its Packaging Distribution business in the U.K. protective packaging market, Macfarlane Group PLC, Glasgow, Scotland, this week confirmed the acquisition of Colton Packaging Teesside.
Colton Packaging Teesside is based in Thornaby near Middlesbrough, North Yorkshire, England, and has been established for 20 years. It is the Nortn East branch of Colton Packaging Ltd, an established regional distributor of protective packaging materials based in Leicester. In 2015 Colton Packaging Teesside generated sales of c£3.0 million.
Macfarlane will pay up to £1.25 million for Colton Packaging Teesside, assuming key financial objectives are achieved in the 12-month period post-acquisition. Both the initial consideration of £1.05 million and the deferred consideration of £0.20 million will be paid from existing borrowing facilities.
Peter Atkinson, CEO of Macfarlane said that "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."
