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Wynnstay Group PLC - Powys, Wales-based agricultural supplies company - Acquires poultry feed supplier Humphrey Feeds and its associated business, Humphrey Pullets Ltd, for £9.5 million in cash. A deferred consideration of up to £2.0 million may become payable dependent on the achievement of certain performance targets, Wynnstay added. In order to fund the acquisition, the company is entering into a new £12.5 million revolving credit facility.
Wynnstay says the acquisition will be earnings enhancing and extend its geographic reach. In the year ended February 28, Humphrey generated revenue of £39.5 million and an adjusted pretax profit of £1.2 million.
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