Wynnstay Group PLC
15 October 2007
WYN.L
WYNNSTAY GROUP PLC
('Wynnstay' or the 'Group')
Acquisition
of
Animal Healthcare Products Distributor
Wynnstay is pleased to announce the acquisition of the entire issued share
capital and the assets of animal healthcare products distributor, MVZ Farm
Supplies Ltd ('MVZ'), for an initial consideration of £500,000. An anticipated
total deferred consideration of £150,000 is payable in instalments over three
years, dependent on the attainment of performance targets in each year.
The business is based in Droitwich, Worcestershire and in addition to animal
healthcare products, supplies a range of agricultural products, including animal
feed supplements, seeds and agrochemicals. The acquisition adds critical mass to
Wynnstay's buying and distribution capacity in animal healthcare products as
well as increasing its presence in the important livestock region of
Worcestershire, Gloucestershire, Warwickshire. It is in line with the Group's
strategy to acquire businesses which complement its core activities. For the
year to 30 September 2007, MVZ generated turnover of approximately £1.75m.
The management team of MVZ will remain with the business following its
acquisition, with the objective of further developing Wynnstay's business in its
areas of operations. MVZ will continue to operate a store from its premises at
Droitwich and over time, this will be converted to a Wynnstay retail store.
Bernard Harris, Managing Director of Wynnstay, commented,
'MVZ has been operating for 30 years in Worcestershire and has built up a
well-established customer base for its healthcare products. Its acquisition is a
logical addition to the Group's existing operations and I am very pleased to
welcome Rufus Ulyet and his team to the Wynnstay Group.'
Press enquiries:
Wynnstay Group plc Bernard Harris, Managing Director T: 01691 828512
Paul Roberts, Finance Director
Biddicks Katie Tzouliadis T: 020 7448 1000
This information is provided by RNS
The company news service from the London Stock Exchange
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