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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Macfarlane Group Plc | LSE:MACF | London | Ordinary Share | GB0005518872 | ORD 25P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 143.00 | 143.50 | 146.00 | 145.50 | 143.00 | 143.00 | 45,124 | 16:35:18 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Business Services, Nec | 280.71M | 14.97M | 0.0942 | 15.34 | 229.69M |
TIDMMACF
RNS Number : 9668X
Macfarlane Group PLC
02 May 2023
2 May 2023
Macfarlane Group PLC
Acquisition of protective packaging distributor Gottlieb
Macfarlane Group PLC ("Macfarlane") is pleased to announce the acquisition of A & G Holdings Limited, owner of Gottlieb Packaging Materials Limited ("Gottlieb"). This earnings enhancing acquisition further progresses Macfarlane's strategy of building its protective packaging business through a combination of organic and acquisitive growth.
Strategic highlights
-- Gottlieb is a well-established business based in the North-West of England, supplying protective packaging products to customers across a wide range of sectors, from its warehouse facilities in Manchester. -- Gottlieb has an experienced team of 15 employees, including two Directors, all of whom will remain with the business following the acquisition. -- There are opportunities for Gottlieb's customers to benefit from access to Macfarlane's extensive range of protective packaging products and services. -- This earnings accretive acquisition continues to demonstrate Macfarlane's 'buy and build' strategy in delivering further stakeholder value.
Transaction details
-- Macfarlane's wholly-owned subsidiary, Macfarlane Group UK Limited, has acquired 100% of Gottlieb for a maximum cash consideration of GBP3.55 million (including an earn-out of up to GBP0.8 million based on agreed profit growth targets over two years) -- A further adjustment is due for net assets in excess of GBP0.3 million with the expected net assets on completion being GBP1.0 million, including GBP0.8 million of net cash. -- The consideration is being financed entirely from Macfarlane's existing GBP30.0 million bank facility. -- For the year ended 31 December 2022, Gottlieb generated sales of GBP4.5 million, with EBITDA and pre-tax profits of GBP0.7 million.
Peter Atkinson, Chief Executive of Macfarlane, said:
"Gottlieb is a well-run, successful protective packaging distributor with an experienced management team. The acquisition of Gottlieb complements the recent opening of our new distribution facility in Heywood and further strengthens our ability to serve customers in the North-West of England. We look forward to working with the team at Gottlieb to support its continued growth. "
Further enquiries: Macfarlane Group Tel: 0141 333 9666 Peter Atkinson Chief Executive ------------------------------- ------------------- Ivor Gray Finance Director ------------------------------- ------------------- Spreng Thomson Tel: 0141 548 5191 ------------------------------- ------------------- Callum Spreng Mob: 07803 970103 ------------------------------- -------------------
Legal Entity Identifier (LEI): 213800LVRYDERSJAAZ73
Notes to Editors:
-- Macfarlane Group PLC has been listed on the Premium segment of the Main Market of the London Stock Exchange (LSE: MACF) since 1973 with over 70 years' experience in the UK packaging industry. -- Through its two divisions, Macfarlane Group services a broad range of business customers, supplying them with high quality protective packaging products which help customers reduce supply chain costs, improve operational efficiencies and enhance their brand presentation. The divisions are: -- Packaging Distribution - Macfarlane Packaging Distribution is the leading UK distributor of a comprehensive range of protective packaging products; and -- Manufacturing Operations - Macfarlane Design and Manufacture who design and produce protective packaging for high value and fragile products. -- Headquartered in Glasgow, Scotland, Macfarlane Group employs over 1,000 people at 37 sites, principally in the UK, as well as in Ireland, Germany and the Netherlands. -- Macfarlane Group supplies more than 20,000 customers, principally in the UK and Europe. -- In partnership with 1,700 suppliers, Macfarlane Group distributes and manufactures 600,000+ lines across a wide range of sectors, including: retail e-commerce; consumer goods; food; logistics; mail order; electronics; defence, automotive and aerospace.
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(END) Dow Jones Newswires
May 02, 2023 02:00 ET (06:00 GMT)
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