A leading animal feed manufacturer in Staffordshire has been acquired in a deal worth up to £6.75 million by a UK-wide specialist agricultural and distribution business.
SC Feeds in Eccleshall Road, Stone, has been bought by Cheshire-based NWF Group plc which delivers feed, food and fuel throughout the UK and which reached a record sales level of £545.8 million for the year ending 31 May 2013.
SC Feeds, which was owned by cousins, Roger and Bryan Deane, and director Andrew Williams, posted £20 million turnover in its last financial figures.
Mark Selby, director of corporate finance at Midlands-based Baldwins Accountants, and Adrian Rushton, corporate partner at Knights Solicitors LLP, acted for the shareholders of SC Feeds on the deal.
Roger Deane of SC Feeds said the company was renowned for its top-quality products and excellent service but this was the right time to sell.
“We have invested in state-of-the-art machinery that has enabled us to remain nimble and efficient and maintain both quality and the highest levels of customer service. This makes SC Feeds a very attractive addition to NWF,” he said.
“We sell our products wholesale as well as to farmers at competitive prices and the NWF Group is further strengthening its agricultural division by taking over.
“We know the business is going to be in good hands and this is a good deal for both parties.”
Mark, who works across Baldwins accountants’ nine offices spread across the region, said this was a strategic acquisition by the NWF Group.
“SC Feeds has built-up an excellent business in the farming industry with its first-class customer service along with the quality and range of its products,” he said.
“The purchase of the company very much fits in with NWF’s business model of growing organically and through targeted acquisitions.
“Acquiring this animal feeds business will boost its agriculture division which already feeds one in seven dairy cows in Britain.”