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07 May 2019 | 07:24

Macfarlane acquires packaging company Ecopac for up to £3.9m

Macfarlane Group said it had acquired protective packaging distribution business Ecopac for up to £3.9m.

The acquisition was in line with a strategy of building the business through a combination of organic and acquisitive growth, Macfarlane said.

The purchase price included an earn-out of £0.8m.

In the year ended 31 March 2018, Ecopac generated sales of £6.0m and pre-tax profits of £0.5m.

Ecopac had 21 employees, all of whom would remain with the business following the acquisition.

'Ecopac is a well-run, profitable packaging business that meets our strict acquisition criteria and will be earnings-enhancing in its first full year in the group,' chief executive Peter Atkinson said.

'I am confident that the business will prove to be an excellent acquisition improving our geographic penetration and extending our customer reach.'

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