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Macfarlane Group Acquires Packaging Business

Scottish packaging group Macfarlane has acquired B&D 2010 Group, a protective packaging business based in the south of England, for a maximum cash consideration of £3.85m.

The deal is part of Macfarlane’s strategy of building its protective packaging business through a combination of organic and acquisitive growth, our sister site Insider.co.uk has reported.

B&D is a well-established business employing 15 staff and supplying customers in the growing aerospace, defence and space sectors, throughout the UK and internationally, from its facility in Southampton.

For the year ended 31 December 2022, B&D generated sales of £2.6m and an adjusted earnings before tax of £500,000.

The transaction includes an earn-out of up to £550,000 based on an agreed profit growth target over one year.

The consideration is being financed entirely from the group’s existing £35m bank facility.

Peter Atkinson, chief executive of Macfarlane, said: “B&D is an excellent business servicing high quality customers in attractive growth sectors and complements Macfarlane’s existing specialist protective packaging activities.”

David Frame, Managing Director, B&D, said: “This acquisition will allow us to pursue growth and further penetrate the international markets we serve.

“Macfarlane Packaging’s wide portfolio of services will enhance our offering with the ability to offer new and existing clients an extended range of services.”

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