Scottish Packaging Group sells Label Division
Macfarlane Group sold Macfarlane labels to the Reflex Group in a deal worth £6.4 Million.
The sale includes Macfarlane subsidiaries Macfarlane Group Ireland (label and packaging) and Macfarlane Group Sweden.
Macfarlane Labels design and print self-adhesive and resealable labels, principally for consumer goods companies.
The Reflex Group is also focused on the manufacture of labels and flexible packaging, with revenues of £135m and more than 800 employees, primarily in the UK.
Macfarlane Labels employs 109 members of staff, who will remain with the business after the sale.
The proceeds from the sale will be invested in the continuing growth of Macfarlane’s protective packaging businesses.
Peter Atkinson, chief executive of Macfarlane (Pictured Above), said: “We believe that the sale to Reflex, with their well-established position and scale in the labels market, creates the best opportunity for Macfarlane Labels to develop.
“The sale will allow the group to focus resources on growing our protective packaging businesses both in the UK and Europe.”