Macfarlane Group acquire Allpack

Macfarlane Group has completed the acquisition of Allpack Packaging Supplies Ltd for a maximum cash consideration of £3.25m (including an earn-out of up to £750,000 based on agreed profit growth targets over one year).

This earnings-enhancing acquisition further progresses Macfarlane’s strategy to build its protective packaging business through a combination of organic and acquisitive growth. Details of the transaction include;

  • Macfarlane’s wholly-owned subsidiary, Macfarlane Group UK Limited, has acquired 100% of Allpack;
  • A further adjustment is due for net assets in excess of £0.4m with the expected net assets on completion being £2.2m, including £1.9m of net cash;
  • For the year ended 31 December 2023, Allpack generated sales of £3.0m, with EBITDA and pre-tax profits of £600,000.

“This latest transaction follows three acquisitions undertaken in the prior 12 months, and clearly demonstrates further progress in executing against our buy and build strategy. Allpack is a well-run, successful protective packaging distributor with an experienced management team. The addition of Allpack to the Macfarlane Group further strengthens our ability to serve customers in East Anglia. We look forward to working with the team at Allpack to support its continued growth,” said Peter Atkinson, Chief Executive, Macfarlane.

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