13 April 2015
The UK Competition and Markets Authority has approved ForFarmers acquisition of Countrywide Farmers feed and forage activities. The acquisition, which was announced on 9th December 2014, will be completed on 1st May 2015.
On completion, ForFarmers will acquire the compound feed, blends, co-products, straights and forage businesses from Countrywide. The transaction also includes a long term agreement for the supply of feed and forage products Countrywide sells in its Country Stores. The business to be acquired has a turnover of € 158 million and amounts to approximately 400,000 tonnes. The price paid is based on an enterprise value of € 21.1 million (£ 15.3 million). ForFarmers is currently the main manufacturer to Countrywide of compound feed.
Iain Gardner, COO of ForFarmers UK: “This acquisition is entirely consistent with The Total Feed Business approach, the objective of which is to supply livestock nutrition in whatever form our customers require it. In addition to the feed business, the acquisition of Countrywide’s forage activities will ensure ForFarmers has a significant presence in this important sector of the market. I would like to welcome the nearly 60 employees that will be joining ForFarmers in the UK on completion”.