Nottingham packaging firm to be sold in £16.75m deal

Nottingham packaging firm Greenwoods Stock Boxes is set to be sold to Scottish business Macfarlane in a deal worth up to £16.75m.

Greenwoods is a packaging distributor located in Nottingham with a small manufacturing facility in Melton Mowbray. Macfarlane says Greenwoods has “minimal customer overlap” and the directors believe that Greenwoods will provide access to new markets for clothing and apparel customers and the opportunity to sell the Macfarlane range of products to Greenwoods customers.

During the financial year ended 30 April 2017, Greenwoods achieved revenues of approximately £14.1m, EBITDA of approximately £1.7m and a reported EBIT figure of approximately £1.6m.

Macfarlane’s chief executive, Peter Atkinson, said: “This acquisition is another major step forward in our growth strategy. Greenwoods is a long established, high quality business which has successfully developed into attractive markets with good growth potential. We see significant benefits in Greenwoods becoming part of the Macfarlane Group and look forward to their continued success.”