Macfarlane buys protective packaging manufacturer GWP

摘要

British Macfarlane Group has announced the acquisition of protective packaging company GWP Group Limited. GWP is a manufacturing and distribution business based in Wiltshire, England. Macfarlane's wholly-owned subsidiary, Macfarlane Group UK, has acquired 100 per cent of GWP for a maximum cash consideration of £15.1 m (including an earn-out of £5.1 m based on agreed profit growth targets over two years) and a further adjustment for net assets in excess of £1.6m with the expected net assets on completion being £4.3m, including £3.8m of net cash. The consideration will be financed through the group's recently extended £30m bankfacility.