Macfarlane Group, the Glasgow-based packaging, design and distribution firm, announced the acquisition of A & G Holdings Limited, owner of Manchester-based Gottlieb Packaging Materials Limited.
“This earnings enhancing acquisition further progresses Macfarlane’s strategy of building its protective packaging business through a combination of organic and acquisitive growth … ” said the Glasgow firm.
“Gottlieb is a well-established business based in the North-West of England, supplying protective packaging products to customers across a wide range of sectors, from its warehouse facilities in Manchester …”
Macfarlane said its wholly-owned subsidiary, Macfarlane Group UK Limited, has acquired 100% of Gottlieb for a maximum cash consideration of £3.55 million, including an earn-out of up to £0.8 million based on agreed profit growth targets over two years.
For the year ended December 31, 2022, Gottlieb generated sales of £4.5 million, with EBITDA and pre-tax profits of £0.7 million.
Headquartered in Glasgow, Macfarlane Group employs over 1,000 people at 37 sites in the UK, Ireland, Germany and the Netherlands.
Macfarlane CEO Peter Atkinson said: “Gottlieb is a well-run, successful protective packaging distributor with an experienced management team.
“The acquisition of Gottlieb complements the recent opening of our new distribution facility in Heywood and further strengthens our ability to serve customers in the North-West of England.
“We look forward to working with the team at Gottlieb to support its continued growth.“