Wynnstay Group PLC
02 December 2005
2 December 2005
WYNNSTAY GROUP PLC
'Wynnstay'
Re: Acquisitions
Wynnstay, the agricultural supplies and rural retail business, announces today
the acquisition of the business of Quins Farm Supplies, based at Newtown, Powys.
A cash consideration of up to a maximum of £0.38m is being paid, dependent on
certain verifications. Quins supplies animal health care and nutrition products
as well as general hardware items and a range of country sporting goods
including shotguns, to farmers and county dwellers in Mid-Wales. Operating from
two stores, it generated sales of approximately £1.4m in the year to October
2005.
The business is an excellent fit with Wynnstay's network of country stores,
which offer a wide range of farming and country-related products. Quins stores
at Newtown and Welshpool will be closed and the respective trade relocated to
Wynnstay's existing sites in those towns. At Newtown, the combined business will
operate from the Wynnstay's new flagship store, which officially opens on the
10th December 2005.
Wynnstay also announces today that its joint venture business, Young's Animal
Feeds, the equine and pet feeds producer, has acquired Dollin & Morris Ltd, a
specialist manufacturer of equine, pet and wild bird foods, based at Standon in
Staffordshire. Wynnstay has invested a further £180,000 to fund it's share of
the purchase consideration, and expects the combined businesses to generate
annual sales of approximately £8m.
Bernard Harris, Managing Director of Wynnstay, commented,
'Quins Farm Supplies is a complementary fit with our existing stores business
and is therefore an excellent addition to this division, which now comprises 24
stores'.
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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