Horticulture firm Sinclair bought from administrators
A HORTICULTURAL business with extensive operations in Cheshire has been acquired out of administration by a rival.
William Sinclair Holdings, a Lincolnshrie-based company listed in AIM which traces its roots back to 1850, appointed KPMG as administrators as a consequence of financial stress related to its investment in a larger facility in Ellesmere Port.
The business was quickly sold to Northern Ireland-based company Westland Horticulture.
William Sinclair supplies a number of the UK’s leading retailers and large independent garden centres, with products including the J. Arthur Bowers’ bark and compost and DeadFast brands. It employs 285 staff, and in 2012 spent £4.75m on the production facility at Ellesmere Port, from where it began manufacturing compost in 2014.
Half-year results for the six months to the end of March published in late June
showed increased operating losses of nearly £8m on turnover of £18.7m, down from £21.7m the year before.
The company whose customers include The Garden Centre Group, B&Q,
Tesco, Wilkinson, and Morrisons, took a £2.3m hit as a result of production issues related to the Ellesmere Port facility.
Westland Horticulture also supplies a wide range of gardening products to the industry including growing media and lawn treatments. It owns the market- leading brand of seed Unwins and wild bird feed ranges Peckish, Nature’s Feast and Bucktons.
Will Wright, partner at KPMG and joint administrator, said: “The cost of relocating the company’s principal operations to Ellesmere Port, and the dual-running costs incurred during this move, unfortunately combined to impact the company’s bottom line.
“The board have been working hard over the summer to try and find a rescue solution but unfortunately there were ultimately no alternatives other than our appointment.”
A team from law firm Pinsent Masons, led by Manchester-based partner James Cameron, advised KPMG on the deal.
