UK – Macfarlane Group has acquired The Pitreavie Group in a £18 million (US$21.88 million) deal, marking another step in its growth strategy.
Founded in 2005, Pitreavie specializes in designing, manufacturing, and distributing protective packaging for sectors such as food and drink, energy, electronics, and industrials. It primarily serves the Scottish market.
Pitreavie employs 159 staff across four Scottish locations, including a corrugated box manufacturing plant, a protective packaging facility, a distribution business, and a temperature-controlled packaging operation supported by in-house design capabilities.
For the year ending December 2024, Pitreavie reported £24.8 million (US$30.15m) in sales, with adjusted EBITDA of £2.5 million (US$3.04m) and pre-tax profits of £1.3 million (US$1.58m).
Macfarlane sees “significant opportunities” to leverage Pitreavie’s expertise, bespoke product offerings, and manufacturing capabilities to expand in Scotland and support its operations in northern England.
Peter Atkinson, CEO of Macfarlane, stated, “Pitreavie is a fast-growing, well-invested company with a committed management team. This acquisition enhances our ability to provide customers with a broader portfolio of protective packaging solutions while driving growth across our operations.”
Analysts at Shore Capital highlighted the potential for cost synergies and growth opportunities, noting the two companies’ complementary expertise, extended product range, and shared supplier base.
Seaman Paper expands with Julius Glatz acquisition
Meanwhile, Seaman Paper Company, a global leader in sustainable paper and packaging solutions, has acquired Julius Glatz GmbH, a German-based producer of high-quality specialty papers.
Founded in 1885, Glatz is recognized for its technical innovations in specialty products. It operates in Neidenfels, Germany, and has subsidiaries PaperTec GmbH and Glatz TransTec GmbH.
This acquisition bolsters Seaman Paper’s technological expertise and enhances its ability to deliver sustainable fiber-based packaging solutions.
While financial details remain confidential, Glatz’s 240 employees will join Seaman Paper’s global workforce, with Julius Glatz GmbH maintaining its independent legal entity and brand identity.
Kenneth Winterhalter, CEO of Seaman Paper, commented, “Glatz has been a trusted partner for years. This acquisition deepens our collaboration and positions us for long-term growth. Their cutting-edge innovations will complement our growing portfolio of sustainable solutions.”
Seaman Paper plans to increase production capacity at Glatz’s facilities and leverage its technology to explore new product lines and markets.
The acquisition also strengthens Seaman Paper’s presence in Germany, complementing its Rastatt-based tissue and crepe paper operations acquired in 2015.
Nina Ritter-Reischl, former co-owner of Glatz, remarked, “Seaman Paper’s values align perfectly with ours as a family-owned business. This partnership ensures a stable and sustainable future, allowing us to offer customers a broader range of specialized solutions.”
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