Animal feed firm SC Foods snapped up by northern rival for £6.75m
STAFFORDSHIRE’S SC Foods has been acquired by Cheshire-based food, fuels and feeds distribution company NWF Group for £6.75m.
NWF has been looking to strengthen this part of its business for some time and is paying an initial £6m for SC Feeds, based at Stone.
SC Feeds has supplied ruminant feed since 1991 and produces more than 80,000 tonnes of compound and blended product per annum. In the year ended April 30 the company reported profits before taxation of £760,000 and net assets of £1.25m.
The remainder of the consideration, £750,000 in new NWF shares, will be paid following the agreement of completion accounts in early 2014.
NWF, is a national player in the production and supply of ruminant animal feed for dairy cows, beef and sheep from its operations stretching from Scotland to Devon. It supplied 481,000 tonnes of feed in the financial year ended May 31.
Chief executive Richard Whiting said: “I am delighted to announce the acquisition of SC Feeds which joins the NWF group of companies. This exciting acquisition is in line with the strategic ambition we have set out to develop the group towards a greater focus on agriculture and meeting the needs of farmers in the UK.”
“It enables the group to grow our business further with the additional compound and blending production capacity along with continuing to develop the SC Feeds business.”
