Selby-based Woodheads Seeds acquired by AIM-listed Wynnstay
Yorkshire seed processing and supply business Woodheads Seeds has been acquired by AIM-listed agricultural and retail group Wynnstay Group plc in a deal worth over £3m dependent upon trading performance up to April 30, 2012.
The Selby-based family business has been trading for over 200 years and now provides a comprehensive range of high quality, certified cereal and grass seed from its modern production and processing facilities. Woodheads Seeds has a well-established reputation for its high quality seed production and processing making it an ideal acquisition for Wynnstay which is based in Llansantffraid, Wales.
Jonathan Woodhead, managing director of Woodheads Seeds, commented: “We are very pleased to have secured this deal as it will provide the opportunity for further development and expansion as well as securing the long term future of the business. We have worked very hard to gain a significant and growing market share which helped make us an attractive proposition to Wynnstay. By becoming part of the group we will be able to benefit from greater economies of scale whilst continuing to provide our customers with an outstanding service.”
At present, Wynnstay has 43 outlets across the West Midlands, Wales, and the North West of England, including 28 Wynnstay Stores, and 15 Just For Pet Stores.
Ken Greetham, Wynnstay’s chief executive, said, “Woodheads Seeds has established a strong reputation within its trading region for its products and service standards. I am delighted to have agreed its acquisition and believe that Woodheads’ addition to the group establishes us as a leading processor of cereal seed in the UK.
“The acquisition is also an important one for the group strategically. Woodheads’ presence in a key farming region in the north of England represents an opportunity for the Group to expand its other agricultural activities into new geographic markets.”
The shareholders of Woodheads Seeds were advised by a team from Yorkshire law firm Gordons led by corporate partner James Fawcett. The firm worked alongside Leeds accountants Brown Butler who provided corporate finance advice, led by Partner James White.