Macfarlane Group PLC
02 October 2006
Macfarlane Group PLC acquires Bloomfield Supplies Limited
2 October 2006
In line with the Group's strategy to develop its Packaging Distribution
businesses, Macfarlane Group PLC ('Macfarlane') announces that it has today
concluded an agreement to acquire Bloomfield Supplies Limited ('Bloomfield'), a
packaging distributor based in Gloucester, for a maximum cash consideration of
£2.0 million. £1.15 million of the consideration will be paid immediately, with
the retained consideration becoming payable in the final quarter of 2007,
subject to certain trading targets being met in the year to 30 September 2007.
Bloomfield complements Macfarlane's existing Packaging Distribution activities,
primarily in the South-West of the UK.
The business made an operating profit of £0.3 million on turnover of £3.9
million in the year to 31 May 2006 (audited). Gross and net assets in the
audited accounts at 31 May 2006 totalled £1.2 million and £0.2 million
respectively.
Further information: Peter D. Atkinson Chief Executive 0141 333 9666
John Love Finance Director 0141 333 9666
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