Macfarlane (GB:MACF) has released an update.
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Macfarlane Group PLC has strategically bolstered its protective packaging business with the acquisition of Polyformes Limited for up to £11.5 million, a move that promises to be earnings accretive. Polyformes, with a strong foothold in various high-profile sectors such as aerospace and medical, aligns with Macfarlane’s growth strategy through its experienced team and complementary product offerings. The acquisition, financed through Macfarlane’s existing bank facilities, is set to enhance stakeholder value with Polyformes’ £9.3 million sales and £1.4 million pre-tax profits in the last year.
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