Agricultural supplier Wynnstay has bought Cornwall-based feed manufacturer and supplier Tamar Milling.
Tamar Milling was purchased for £1.4m on 17 November, with a further £100,000 consideration depending on performance.
The company supplies 25,000t of feed annually to about 250 farmers in the south-west of England.
It also provides a mobile mill-and-mix service in the region that offers feed blends for beef, sheep and dairy.
The firm made a profit before tax of £420,000 in the year ended 30 September 2021, from a revenue of £6.4m.
Nick Furse, founder of Tamar Milling, will continue to lead operations and will also join Wynnstay in a senior commercial feed role.
Gareth Davies, chief executive officer at Wynnstay, said: “This acquisition 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.”
The purchase of Tamar Milling is part of Wynnstay’s strategy to develop its business in the south of England.
In March, Wynnstay bought Hampshire-based poultry feed business Humphrey Feeds and Pullets for £9.5m.