NWF Group PLC
22 August 2005
Embargoed until: 22 August 2005
NWF Group plc
Acquisition of Leading Feed Distributor
NWF Group plc ('NWF'), the diversified sales and distribution business,
announces that its wholly owned subsidiary, NWF Agriculture Ltd, has acquired
the entire share capital of Nutrition Express Ltd ('Nutrition Express') for a
total consideration of £482,000, of which £150,000 is deferred dependent upon
certain targets being met.
Nutrition Express was founded in 2001 by John Dent and Simon Harper. Following
the transaction John Dent will be retiring and Simon Harper will join NWF.
Nutrition Express is a trading company, which buys specialist animal feeds,
including calf milk powders, fats and minerals from foreign suppliers and then
sells them to farmers and feed manufacturers. The business has developed strong
marketing channels in the UK and distributes its products through third parties.
In the year ended 30 June 2004 turnover was £1.8 million and profit before
taxation was £126,000. It had net liabilities of £21,000.
Graham Scott, Chief Executive of NWF Group, commented: 'Nutrition Express has
built an attractive business supplying specialist animal feed products to both
manufacturers and farmers. This is an exciting addition to our Agriculture
business as it has national coverage and a well-established marketing network.
It allows us to diversify the range of products we sell into new markets. This
acquisition can only strengthen our position in the market place and add to the
already impressive performance of our feeds business.'
For further information please visit www.nwf.co.uk or contact:
Graham Scott, Chief Executive John West / Claire Melly
NWF Group plc Tavistock Communications
Tel: 01829 260 260 Tel: 020 7920 3150
This information is provided by RNS
The company news service from the London Stock Exchange
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