BRUSSELS, Belgium, Sept. 5, 2019 (Fastmarkets RISI) -Macfarlane Group has bought 100% of Leyland Packaging Company, a UK protective packaging distributor, for a maximum consideration of £3.25 million ($3.9 million), including an earn-out of £1 million.
Leyland is focused on industrial customers within a close radius of its 37,000 sq. ft. facilities in Leyland, in north-western England, with easy access to the M6, M61 and M65 motorways.
The business has a team of 12 employees and generated sales of £4.06 million and pre-tax profits of £0.55 million in the year ended December 31, 2018.
“Leyland is a high-quality protective packaging business that meets our acquisition criteria and will be earnings-enhancing in its first full year in the group. I am confident that the business will be another good acquisition for Macfarlane improving our geographic coverage in the North-West of England and extending our customer reach,” Peter Atkinson, chief executive of Macfarlane, said.