Macfarlane Group PLC announces the acquisition of The Pitreavie Group Limited for a maximum cash consideration of £18.0 million, including an earn-out of up to £4.0 million over two years.
The Pitreavie Group, founded in 2005, specialises in the manufacture and distribution of protective packaging for customers in the food & drink, energy, electronics and industrial sectors, with a primary focus on the Scottish market.
Peter Atkinson, Chief Executive of Macfarlane, said:
“Pitreavie is a fast-growing, well-invested company with an experienced management team that is fully committed to the business. The acquisition represents a unique and exciting opportunity to grow our business in Scotland and provide in-house supply to our businesses in the North of England.”
“We look forward to working with the team at Pitreavie to support its continued growth and develop opportunities for us to work together to provide our customers with a broader portfolio of protective packaging solutions.”