Wynnstay Regulatory News (WYN)

6 Aug 2007 07:00

Wynnstay Group PLC06 August 2007 WYN.L WYNNSTAY GROUP PLC ("Wynnstay" or the "Group") Acquisition of Two Agricultural Supplies Distributors Wynnstay is delighted to announce the acquisition of two agricultural suppliesdistributors, T&M Williams Ltd in West Wales and Westhope Livestock Supplies Ltdin Herefordshire. The Group has acquired the goodwill and certain assets of T&M Williams Ltd for acash consideration of up to £0.290m, dependent on certain conditions, with£0.100m paid on completion. Based in Tregaron, West Wales, T&M Williams Ltd is adistributor of animal health products as well as a broad range of otheragricultural products. In addition, Wynnstay has acquired the entire share capital of WesthopeLivestock Supplies Ltd of Herefordshire. The cash consideration is anticipatedto be up to £0.275m, contingent on ongoing profitability, with £0.165m paid oncompletion. The business is a specialist distributor of agricultural goodsincluding animal feed supplements, dairy hygiene and animal health products. Both transactions will further strengthen the Group's market share in keylivestock regions. Commenting on the transactions, Managing Director, Mr Bernard Harris said "Both of these businesses are a complementary fit with the Group's existingbusiness and their acquisition represents further progress in our strategy toact as a consolidator in the sector. We continue to grow our market share within our core activities and the newbusiness will increase the volume of animal health and associated products soldby approximately 15%, contributing an additional £1.9m to turnover in total." Press enquiries: Wynnstay Group plc Bernard Harris, Managing Director T: 01691 828512 Paul Roberts, Finance Director Biddicks Sophie Lane T: 020 7448 1000 WH Ireland Limited David Youngman T: 0161 832 2174 This information is provided by RNS The company news service from the London Stock Exchange