Oakes to ramp up production following acquisition
ANIMAL feed business Oakes Millers has acquired smaller rival ME Waterhouse for an undisclosed sum.
Nantwich-based Oakes Millers manufactures and distributes a range of animal feeds from three mills in Cheshire as well as a bulk processing site at Prees in Shropshire.
It has annual sales of around £70m and employs 120 staff.
The company said the acquisition of Malpas-based ME Waterhouse, which employs 18 people, would allow it to expand its production capacity. The deal was supported by Barclays in Manchester.
Oakes chairman John Lea said: “This acquisition will enable us to expand our production capacity and bring increased manufacturing flexibility to the Oakes Millers Group in line with the significant increase in sales volumes we have experienced in recent years.
“Bringing this asset into the Oakes Millers business will provide the group with the opportunity to further develop our product range to meet the changing demands of our customer base.”
Shaun Cross, relationship director for Barclays Corporate Banking in Manchester, said: “Oakes Millers continues to look to grow its market share in a sustainable, controlled manner. Our long standing desire to assist the Group, industry knowledge and appetite to provide new term debt to an existing client, ensured we remain the natural choice to support the business in its future development.”
