UK-based packaging and label company Macfarlane Group has expanded its protective packaging distribution operations in Northern Europe by acquiring PackMann Gesellschaft für Verpackungen und Dienstleistungen.
As part of the deal, Macfarlane acquired 100 percent of PackMann for a maximum cash consideration of $9.08 million.
Based near Heidelberg, Germany, PackMann supplies protective packaging to customers across Germany and neighboring countries.
The company has 112 employees, including its Founder and Director Frank Westermann and Director Volker Thorn.
It generated sales of €12.8m and recorded a pre-tax profit of €0.8m for the 12 months to 31 December 2021.
Westermann and Thorn will both remain with PackMann after the deal has closed.
Based in Glasgow, Scotland, Macfarlane supplies protective packaging products via its network of 36 sites across the UK, Ireland and the Netherlands.
The company manufactures and distributes more than 600,000 lines across a wide range of sectors, including retail e-commerce, consumer goods, food, logistics, mail order, electronics, defence, automotive and aerospace.
In January this year, Macfarlane sold its labels division, Macfarlane Labels, to The Reflex Group for a $8.6 million.
The Macfarlane Labels division includes Macfarlane Labels, Macfarlane Group Ireland (Labels & Packaging) and Macfarlane Group Sweden.