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Macfarlane Group PLC

The Cavendish View

Macfarlane (Buy) is a packaging distributor and manufacturer supplying protective packaging products and services to industrial and commercial customers. Meeting management would provide the opportunity to discuss further market share gains, acquisition opportunities and the benefits of the group's value-added packaging model.

GUY HEWETT

Research Director

Our network of regional distribution ensures a highly flexible responsive service

Macfarlane keeps other companies' products intact between the factory and the customer. It designs, manufactures and distributes protective packaging to more than 20,000 customers across the UK and Europe, in sectors ranging from e-commerce retail and logistics to aerospace, defence, medical equipment and food.

The distribution business is the larger of two arms. It holds stock locally across a network of regional distribution centres in the UK, Ireland, the Netherlands and Germany, and supplies on a just-in-time basis from a range drawn from more than a thousand suppliers. Because it isn't tied to a single manufacturer, it can advise on specification independently — its sales approach is built around reducing a customer's total cost of packing rather than the unit price of the box, taking in transport, warehousing, damages, returns and packing-line productivity.

The manufacturing arm comprises design and manufacture units producing bespoke protective packaging in corrugate, timber and foam, plus specialist cases, for customers moving high-value or fragile goods. It sells directly and through the distribution network, which is its largest single customer, and is supported by Innovation Labs at Milton Keynes and Heywood where customers' packing problems are designed and tested.

The Group has grown substantially by acquisition and employs over 1,000 people. It is headquartered in Glasgow, registered in Scotland, and listed on the London Stock Exchange, holding the LSE's Green Economy Mark.

Attending

Company descriptions are drawn from information published by each company and have not been independently verified by Cavendish. They are for information only, are not investment research, advice or a recommendation, and do not constitute an offer or invitation to buy or sell any security. Information is correct as at 10th September 2026 and will not be updated. Investors should refer to each company's own published announcements and accounts. Cavendish acts as adviser or broker to certain of the companies featured.

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Cavendish is a full service investment bank and trusted advisor to ambitious companies. The Company provides a range of services to both public and private companies, from equity raising in capital markets, to M&A, debt advisory and private growth capital.

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Company Reg No: 06198898

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