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Macfarlane Group to buy UK’s Greenwood Stock Boxes

PKBR Staff Writer Published 19 September 2017

Scotland-based packaging and label firm Macfarlane Group has agreed to acquire Greenwood Stock Boxes for about £16.75m.

Under the deal, Macfarlane will acquire the trade and selected assets of Greenwood, as well as 100% share capital of its sister firm Nottingham Recycling.

Based in Nottingham and Melton Mowbray, Greenwoods is a packaging distributor that operates small corrugate manufacturing facility.

The company offers corrugate packaging solutions focusing primarily on the clothing retail sector. It also offers collection and baling service for waste corrugate.

The deal will allow Macfarlane to expand its packaging distribution business in the UK protective packaging market.

Macfarlane plans to raise £8m before expenses through the share placing, which will be used to fund the acquisition.

Macfarlane chief executive Peter Atkinson said: “This acquisition is another major step forward in our growth strategy. Greenwoods is a long established, high quality business which has successfully developed into attractive markets with good growth potential.

“We see significant benefits in Greenwoods becoming part of Macfarlane Group and look forward to their continued success.”

Macfarlane provides protective packaging products and services to around 20,000 businesses across the UK and Ireland.

The company operates through a network of regional distribution centres, which have access to products from 650 packaging manufacturers across the globe.

With a fleet of 100 delivery vehicles and 700,000 pallet spaces, the company has 26 sites in the UK, Ireland and Sweden.