Scottish Packaging Giant Macfarlane Group Seals £18 Million Deal with The Pitreavie Group
In a groundbreaking move that has sent shockwaves through the industry, Glasgow-based Macfarlane Group has officially acquired The Pitreavie Group in a monumental cash deal worth up to £18 million. This acquisition marks a significant milestone for Macfarlane, with this being the largest deal the company has closed in over two decades.
The Merger Unveiled
The Pitreavie Group, owned and developed by Joe Diamond and Gordon Delaney since 2005, has become an integral part of the Scottish packaging landscape with its operations in Cumbernauld, Glenrothes, and Aberdeen. Specializing in protective packaging for various sectors like food and drink, energy, electronics, and industrial, Pitreavie boasts impressive figures of £1.3 million in adjusted pre-tax profits on sales of £24.8 million for the year ending December 31, 2024.
Strategic Growth Opportunities
Macfarlane Group, a legacy in the industry founded by the late Lord Macfarlane of Bearsden post-World War II, has expressed enthusiasm for the potential growth that this merger brings. With over 1,000 employees across 40 locations in the UK, Ireland, Germany, and the Netherlands, Macfarlane sees the combined expertise and resources of both companies as a significant advantage for expansion.
A Positive Outlook
Peter Atkinson, the CEO of Macfarlane, has emphasized the shared vision for growth and innovation following the acquisition. The merger not only reinforces Macfarlane’s presence in Scotland but also enhances its distribution capabilities in the north of England. Stephen Hislop, MD of The Pitreavie Group, echoes this sentiment, highlighting the exciting prospects that lie ahead for both companies.
In a heartwarming gesture of appreciation and optimism, both Joe Diamond and Gordon Delaney have expressed their pride in the growth of Pitreavie under their stewardship and their confidence in Macfarlane Group’s ability to carry the legacy forward. The unity of purpose and shared values between the two companies bodes well for a seamless transition and a bright future ahead.
As the packaging industry witnesses this monumental union between two giants, the landscape is set to evolve, creating ripples of change that promise growth, innovation, and enhanced customer experiences. The synergy between Macfarlane Group and The Pitreavie Group signifies a new era of possibilities and collaborations that will undoubtedly shape the future of packaging solutions for years to come.