Macfarlane Group PLC (MACF.L) announced the acquisition of The Pitreavie Group Limited for a maximum cash consideration of 18.0 million pounds, including an earn-out of up to 4.0 million pounds over two years.
Founded in 2005, Pitreavie designs, manufactures and distributes protective packaging, supplying to customers in the food & drink, energy, electronics and industrial sectors, primarily in Scotland.
For the year ended 31 December 2024, Pitreavie reported sales of 24.8 million pounds, with adjusted EBITDA of 2.5 million pounds and adjusted pre-tax profits of 1.3 million pounds. Pitreavie employs 159 employees across four locations in Scotland.
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