Agricultural supplies group Wynnstay (LON: WYN) announced on Thursday that it has completed the purchase of two complementary bolt-on acquisitions that will expand its presence in the east of the UK.
The company said it has acquired Armstrong Richardson Group's agricultural division, a family-owned business serving rural communities in the northeast of England. It has also acquired the fertilizer manufacturing business and assets of HELM Great Britain ltd which is part of HELM group, a German multinational chemicals company.
The Armstrong Richardson Group's agricultural division supplies a wide range of products for arable and livestock farmers, including seed fertiliser and feed.
It also owns the Yorkshire green grass seed brand. The division's managerial staff, barring the family director, will transfer to Wynnstay.
The fertiliser and manufacturing business assets of HELM Great Britain Ltd are based at the Inland Port of Howden, producing and selling blended fertiliser, increasing Wynnstay's manufacturing capacity and extending its reach in South Yorkshire.
“These are highly complementary acquisitions, which expand our presence on the eastern side of the country, and add modern blended-fertiliser production facilities. They bring new customers to the Group and staff with significant experience and local knowledge,” commented Gareth Davies, CEO of Wynnstay Group.
The company's shares are currently up 2.38% at 494p after initially reaching highs of 495p earlier in the session.
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Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.