Scott Group snaps up rival Rosewood

SCOTT Group, the pallet maker and industrial components specialist, has bought Cumbernauld-based rival Rosewood Scotland for an undisclosed sum.

The takeover comes just weeks after chief executive and co-owner John Scott told The Scotsman that he was looking for bolt-on acquisitions worth as much as 10 million.

Rosewood will be rebranded as Tripack, one of Scott Group's existing businesses.

The Fife-based group employs more than 1,000 staff in the UK and has a turnover of about 117m. The firm is also eyeing further European expansion.