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The latest announcement is out from Macfarlane ( (GB:MACF) ).
Macfarlane Group PLC has announced the acquisition of Pitreavie Group Limited, a leading protective packaging manufacturer in Scotland, for £18.0 million. This strategic move enhances Macfarlane’s earnings and supports its growth strategy by expanding its presence in Scotland and the North of England. Pitreavie’s expertise in corrugate manufacturing will complement Macfarlane’s distribution operations, offering significant growth opportunities for both entities. The acquisition is financed through Macfarlane’s existing bank facility, underscoring its robust financial position and commitment to stakeholder value.
More about Macfarlane
Macfarlane Group PLC, listed on the London Stock Exchange since 1973, is a prominent player in the UK packaging industry. It operates through two main divisions: Packaging Distribution, known for distributing a wide range of protective packaging products, and Manufacturing Operations, which leads in designing and producing packaging for high-value items. Headquartered in Glasgow, the company employs over 1,000 people across 40 sites in the UK, Ireland, Germany, and the Netherlands, serving more than 20,000 customers across various sectors including retail, e-commerce, and automotive.
YTD Price Performance: -0.47%
Average Trading Volume: 264,840
Technical Sentiment Consensus Rating: Hold
Current Market Cap: £170.8M
See more insights into MACF stock on TipRanks’ Stock Analysis page.
