Wynnstay buys feed manufacturer for £1.4 million
Agricultural supplies group Wynnstay has bought feed manufacturer and supplier Tamar Milling.
It will expand the group's presence in the south west of England
Llansantffraid-based Wynnstay has acquired the entire share capital of Tamar , a manufacturer and supplier of blended feed products, for an initial consideration of £1.4 million.
A deferred consideration of up to £100,000 is payable dependent on performance.
Gareth Davies, chief executive of Wynnstay Group, said: "Tamar is a long-established, high-quality manufacturer and supplier of blended animal feed and 'on-farm' grain milling services to farmers in the south-west of England. Like Wynnstay, it places a strong emphasis on customer service, and has a significant customer base.
"Tamar is highly complementary and will be immediately earnings enhancing. It fulfils multiple acquisition criteria. It increases our presence in the south-west, adds new farmer customers and provides us with our first feed manufacturing facility in the area. We look forward to working with our new colleagues and to continuing Tamar's successful growth."
Tamar was established in 1994 and is based in Whitstone, Cornwall.
Following its acquisition, Tamar's founder, Nick Furse, will join Wynnstay in a senior commercial feed role and continue to lead Tamar's operations.
The acquisition of Tamar is in line with the group's strategy of acquiring businesses that complement its existing activities and bring further benefits.
