NWF Group buys SC Feeds

Agricultural company NWF Group has bought the entire issued share capital of SC Feeds, a UK animal feed manufacturer.The group is paying up to £6.75m, including an initial consideration of £6m in cash to be satisfied from NWF's existing banking facilities, and up to £0.75m through issue of new ordinary shares.SC Feeds, based in Stone Staffordshire, produces in excess of 80,000 tonnes of compound and blended product per annum. In the year ended 30 April 2013, SC Feeds reported profit before taxation of £0.76m and net assets of £1.25m."I am delighted to announce the acquisition of SC Feeds which joins the NWF group of companies," said NWF's Chief Executive Richard Whiting. "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."Shares rose 0.35% to 143.50p at 11:09 on Monday.RD