Welsh agricultural and retail concern Wynnstay Group is buying Welsh Feed Producers and seeking £3 million.

Powys-based Wynnstay, which lifted interim profits 51 per cent to £2.9 million pre-tax on turnover up 46 per cent to £116.5 million, is buying the 50 per cent of Welsh Feed Producers it does not already own. The company is paying £1.34 million cash for Welsh Feed, which made £133,300 pre-tax in the year to last September, and is also to redeem £1.34 million of loan stock held by the vendors.

Wynnstay likes Camarthen-based Welsh Feed as a leading supplier of ruminant animal feeds for dairy farmers in the region. The £3 million placing at 250p, is to fund the acquisition and provide working capital.

At 260p, Wynnstay’s shares value the company at £34.4 million.

Save 50% off your first year’s subscription to Growth Company Investor magazine, and gain immediate access to all the recommendations online. Click here.

Wynnstay Group	AIM	£27.54m	191.50p	0.00p
Click here for interactive charting
Other company articles:
Expansion at Wynnstay			08/08/2008
Wynnstay veteran goes			21/02/2008
Wynnstay Group			07/01/2008
Wynnstay Group			22/06/2007
Wynnstay Group			24/01/2007