August 2 2014 Latest news:
Duncan Brodie, business editor
Wednesday, July 2, 2014
Dutch livestock feed group ForFarmers, which operates in the UK through its Ipswich-based subsidiary BOCM Pauls, has further expanded its presence in Britain with the acquisition of Wheyfeed.
The deal values Wheyfeed, which is based at Stanton-on-the-Wolds, near Nottingham, and has a workforce of 82, at 5million euros (about £3.9m).
Wheyfeed sells more than 200,000 tonnes of liquid feed a year, based on co-products from the food, drink and biofuel sectors, and last year generated revenues of around £10m.
The company, which also operates a fleet of 35 liquid tankers, will now become part of ForFarmers’ UK business, with all employees being retained.
ForFarmers, which is based at Lochem in the Netherlands, said the acquisition was consistent with its objective to consolidate and expand its leading position in its markets and would contriibute to group earnings during the current year
Iain Gardner, ForFarmers’ chief operating officer in the UK, said: “This acquisition builds on ForFarmers Total Feed Business approach; the ability to provide livestock nutrition in whatever form our customers require it.
“Liquid co-products sourced from the food, drink and biofuel industries form an important part of many livestock farmers’ nutritional inputs. The animal feed sector provides the food industry with a highly sustainable market for these materials.
“The acquisition of Wheyfeed Ltd represents a significant addition to our existing portfolio of co-products, straights and minerals and will enable us to offer a wider range of products to our customers in the ruminant and monogastric markets.”
He added: “I am pleased to welcome all of the employees of Wheyfeed Ltd, who bring with them a wealth of experience and their own perspective on the liquid feeds market.”
BOCM Pauls, a member of the EADT/EDP Top100 listing of the 100 largest companies in Suffolk and Norfolk, was acquired by ForFarmers in 2012, in a deal valued at about £71m. Besides its Ipswich head office, its presence in East Anglia also includes mills near Bury St Edmunds and Diss.
ForFarmers expanded its presence in the UK market earlier this year with the acquisition of HST Feeds, based in Crewe, Cheshire, in a deal valuing the business at around £11.9m.