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Macfarlane Group (MACF)

Share Price:
Up 110.50p
Change Today:
0.50p
Market Cap:
174.38m

Macfarlane buys packaging distribution business Ecopac for up to ?3.9m

07 May 19

LONDON (ShareCast) - (Sharecast News) - Packaging and label company Macfarlane has bought Buckinghamshire-based protective packaging distribution business Ecopac for up to 3.9m in cash.
The group said the deal was in line with its strategy of building the business through a combination of organic and acquisitive growth.

The acquisition was made through Macfarlane's wholly-owned subsidiary, Macfarlane Group UK Limited.

In the year to the end of March 2018, Ecopac - which focuses mainly on customers within a close radius of its facilities near Aylesbury - generated sales of 6m and pre-tax profits of 0.5m.

Macfarlane said all of Ecopac's 21 employees will remain with the business after the acquisition.

Chief executive Peter Atkinson said: "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. I am confident that the business will prove to be an excellent acquisition improving our geographic penetration and extending our customer reach."

1345 BST, the shares were up 1.7% at 103.50p.

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Market Data

Currency UK Pounds
Price 110.50p
Change Today 0.50p
52 Week High 114.50p
52 Week Low 91.40p
Volume 84,369
Shares Issued 157.81m
Market Cap 174.38m

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