Wynnstay Regulatory News (WYN)

7 Jan 2008 07:01

Wynnstay Group PLC07 January 2008 WYN.L WYNNSTAY GROUP PLC ("Wynnstay" or "the Group") Acquisition of John Hatton Agriculture Wynnstay, the agricultural supplies and rural retail business, has todayannounced the acquisition of John Hatton Agriculture ("John Hatton"). John Hatton is a specialist distributor of agricultural requisites, includinganimal health products, feed and supplements and dairy hygiene products. Thebusiness is based in Lancaster with four operations in Kendal, Skipton, Gisburnand Ulverston, serving important livestock markets in the North of England. Thebusiness generated turnover of £1.8m (unaudited) in the year ended August 2007. Following the acquisition of the Glasson Group, based in Lancaster, in August2006, Wynnstay has built a strong presence in the region and the acquisitioncomplements these activities, further enhancing the Group's market share in thiskey livestock region. The initial consideration for the business, including fixed assets, isapproximately £237,000, with a further estimated £100,000 payable for stock. Anadditional deferred consideration is due dependent on the achievement of certainperformance criteria over a three year period. Commenting, Managing Director, Mr Bernard Harris said, "We continue to act as a consolidator within the agricultural sector and theacquisition of John Hatton is in line with this strategy. The businessrepresents a highly attractive complementary fit with our existing activities,strengthening our presence in this important livestock region." Press enquiries: Wynnstay Group plc Bernard Harris, Managing Director T: 01691 828512 Paul Roberts, Finance Director Biddicks Katie Tzouliadis T: 020 7448 1000 This information is provided by RNS The company news service from the London Stock Exchange