Glasgow firm's latest acquisition
Macfarlane wraps up Colton in £1.25m deal
Colton Packaging Teesside is based in Thornaby, near Middlesbrough, and has been established for 20 years. It currently has eight employees and is the North East branch of Colton Packaging Limited, a regional distributor of protective packaging materials based in Leicester. In 2015 Colton Packaging Teesside generated sales of about £3m.
Glasgow-based Macfarlane will make an initial payment of £1.05m and the deferred £200,000 will be paid from existing borrowing facilities.
Macfarlane chief executive Peter Atkinson (pictured), said: “Colton Packaging Teesside is a high quality business with a good team of people who will complement the Macfarlane Packaging Distribution business based in Newcastle and strengthen Macfarlane’s presence in the North East of England.”