Partner Article

Carr’s eyes European expansion

ENGINEERING and agricultural giant Carr’s Milling is targeting ongoing expansion in Europe through acquisition after its £5.62m swoop for two Scottish animal feed companies.

The Carlisle group, which has a large presence across the North, has snapped up Scotmin for £4.82m and borthwickburn for £0.8m from Buccleuch County

Scotmin is a manufacturer and distributor of animal feed supplements, based in Ayr, Scotland, where it employs 41 people.

It has been trading for over 31 years and is a major supplier to the Scottish market.

In the year ended 31 October 2009, the company generated revenues of £8m in revenues and an operating profit of £550,000.

Chief executive Chris Holmes told bdaily the firm remains very much on the acquisition trail as it looks to grow its presence in Europe.

He said: “Apart from the growth opportunities from these acquisitions in the UK, they also provide a platform for us to move into Europe.”

Meanwhile, Mr Holmes also said plans to develop a plant in the US which had been expected to be delivered this November have been delayed until 2011 due to “legal issues” slowing things down.

Borthwickburn sells animal feed and proprietary animal health products and trades from three operations in Jedburgh, Selkirk and Berwick.

The acquisition extends the number of retail branches operating in northern England and Scotland from 15 to 18.

For the year ended 31 October 2009, it brought in revenues of £3.2m and operating profit of £28,000.

“Following integration, both Scotmin and borthwickburn are expected to enhance the Company’s earnings,” a company statement said.

This was posted in Bdaily's Members' News section by Ruth Mitchell .