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Macfarlane Group PLC - Glasgow-based packaging and label company - Acquires PackMann Gesellschaft für Verpackungen und Dienstleistungen mbH for €8.6 million. PackMann is a protective packaging distribution business based in Eppelheim, Germany. Macfarlane says the acquisition is in line with the strategy to build its packaging business in Northern Europe.
The cash consideration will be financed through the company's existing £30 million bank facility.
Current stock price: 117.83 pence, down 1.8% on Tuesday in London
12-month change: up 0.7%
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