Wynnstay Group PLC
06 August 2007
WYN.L
WYNNSTAY GROUP PLC
('Wynnstay' or the 'Group')
Acquisition of Two Agricultural Supplies Distributors
Wynnstay is delighted to announce the acquisition of two agricultural supplies
distributors, T&M Williams Ltd in West Wales and Westhope Livestock Supplies Ltd
in Herefordshire.
The Group has acquired the goodwill and certain assets of T&M Williams Ltd for a
cash consideration of up to £0.290m, dependent on certain conditions, with
£0.100m paid on completion. Based in Tregaron, West Wales, T&M Williams Ltd is a
distributor of animal health products as well as a broad range of other
agricultural products.
In addition, Wynnstay has acquired the entire share capital of Westhope
Livestock Supplies Ltd of Herefordshire. The cash consideration is anticipated
to be up to £0.275m, contingent on ongoing profitability, with £0.165m paid on
completion. The business is a specialist distributor of agricultural goods
including animal feed supplements, dairy hygiene and animal health products.
Both transactions will further strengthen the Group's market share in key
livestock regions.
Commenting on the transactions, Managing Director, Mr Bernard Harris said
'Both of these businesses are a complementary fit with the Group's existing
business and their acquisition represents further progress in our strategy to
act as a consolidator in the sector.
We continue to grow our market share within our core activities and the new
business will increase the volume of animal health and associated products sold
by approximately 15%, contributing an additional £1.9m to turnover in total.'
Press enquiries:
Wynnstay Group plc Bernard Harris, Managing Director T: 01691 828512
Paul Roberts, Finance Director
Biddicks Sophie Lane T: 020 7448 1000
WH Ireland Limited David Youngman T: 0161 832 2174
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