Tru-Test UK has acquired the livestock suppliers Fearing International and Ritchey for around £3.25 million.
Tru-Test UK has acquired the agricultural livestock suppliers Fearing International and Ritchey for around £3.25 million.
The businesses were acquired from Animalcare Group by the wholly owned subsidiary of Tru-Test, a New Zealand-based agricultural technology company.
Northampton-based Fearing International is a mail order supplier of livestock products. Ritchey manufactures livestock marking and other animal healthcare products. In 2009 the two companies made a combined pre-tax profit of £570,000 on a turnover of £7.12 million and had net assets of £4.83 million.
James Lambert, chairman of Animalcare Group, comments: ‘With approximately 80 per cent of Group profits being generated from the Animalcare veterinary medicines and supplies business the board has decided on focusing all its resources on optimising the growth of the veterinary business.’
AIM-listed Animalcare Group is a supplier of medicines and identification products to the animal veterinary and livestock markets. In 2009 the North Yorkshire-based company declared a pre-tax profit of £1.53 million on a turnover of £17.64 million.
Under the terms of the deal the service contracts of all employees of Fearing and Ritchey will transfer to Tru-Test.