Agricultural supplies group Wynnstay has announced the acquisition of Tamar Milling, a manufacturer and supplier of blended feed products, for £1.4m.
Wynnstay said the acquisition of Tamar was in line with its strategy of acquiring businesses that "complement existing activities and bring further benefits".
Tamar 'significantly strengthens' the company’s presence in the south west, adding a new farming customer base, additional supply chain relationships and cross-selling opportunities.
Wynnstay said the acquisition also meant the firm's first feed manufacturing facility in the region, enabling it to provide its own bulk feed offering in the area.
Established in 1994, Tamar is based in Whitstone, Cornwall, and supplies approximately 25,000 tonnes of feed annually to 250 farmers in the south west.
The firm manufactures and supplies a range of blended and coarse mix feed rations for dairy cows, cattle, and sheep.
Tamar also operates a successful ‘on-farm’ grain milling service for farmers wanting to use home-grown or purchased grain in their livestock rations.
Following its acquisition, Tamar’s founder, Nick Furse, will join Wynnstay in a senior commercial feed role and continue to lead Tamar’s operations.
In the year ended 30 September 2021, Tamar generated revenues of £6.40m, and a profit before tax of £0.42m. Net assets at 30 September 2021 were £0.92m.
Gareth Davies, CEO of Wynnstay said: “Tamar is a long-established, high-quality manufacturer and supplier of blended animal feed and ‘on-farm’ grain milling services to farmers in the south-west of England.
“Tamar is highly complementary and will be immediately earnings enhancing. It fulfils multiple acquisition criteria. It increases our presence in the south-west, adds new farmer customers and provides us with our first feed manufacturing facility in the area.
"We look forward to working with our new colleagues and to continuing Tamar’s successful growth.”
