Wynnstay Regulatory News (WYN)

15 Oct 2007 07:01

Wynnstay Group PLC15 October 2007 WYN.L WYNNSTAY GROUP PLC ("Wynnstay" or the "Group") Acquisition of Animal Healthcare Products Distributor Wynnstay is pleased to announce the acquisition of the entire issued sharecapital and the assets of animal healthcare products distributor, MVZ FarmSupplies Ltd ("MVZ"), for an initial consideration of £500,000. An anticipatedtotal deferred consideration of £150,000 is payable in instalments over threeyears, dependent on the attainment of performance targets in each year. The business is based in Droitwich, Worcestershire and in addition to animalhealthcare products, supplies a range of agricultural products, including animalfeed supplements, seeds and agrochemicals. The acquisition adds critical mass toWynnstay's buying and distribution capacity in animal healthcare products aswell as increasing its presence in the important livestock region ofWorcestershire, Gloucestershire, Warwickshire. It is in line with the Group'sstrategy to acquire businesses which complement its core activities. For theyear to 30 September 2007, MVZ generated turnover of approximately £1.75m. The management team of MVZ will remain with the business following itsacquisition, with the objective of further developing Wynnstay's business in itsareas of operations. MVZ will continue to operate a store from its premises atDroitwich and over time, this will be converted to a Wynnstay retail store. Bernard Harris, Managing Director of Wynnstay, commented, "MVZ has been operating for 30 years in Worcestershire and has built up awell-established customer base for its healthcare products. Its acquisition is alogical addition to the Group's existing operations and I am very pleased towelcome Rufus Ulyet and his team to the Wynnstay Group." 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