Mole Valley burrows into CWG
Devon-based Mole Valley Farmers has acquired Lincolnshire farming retailer CWG, helped by a funding package from Lloyds TSB Corporate Markets.
Mole Valley Farmers is a leading player in the animal feed sector and sells nearly 500,000 tonnes of feed per annum, a high proportion of which is produced at the company’s production facilities.
The businesses currently operate nine retail branches in the South West and its subsidiary, Scats Countrystores, has a further 19 stores across the South and South East of England. Mole Valley says the acquisition of CWG is a natural expansion of the business into East England and the Midlands.
Andrew Chapple, company secretary and head of finance of Mole Valley Farmers, said: "This deal marks an important milestone in the development of our business and we’re pleased to have the backing of Lloyds TSB.
"We’re very excited about the growth of the business and the opportunity to work with a wider base of farmers and rural customers."
Clive Hetherington, South West area director for Lloyds TSB Corporate Markets, added: "Mole Valley Farmers is a fascinating business run by an impressive management team. We’re pleased to have been able to provide Andrew and his colleagues with the funding they needed to continue the growth of the business."
Mole Valley Farmers intends to retain the CWG name and build on the heritage of the company and its 11 stores. The business also plans to enhance CWG’s product range and service offering as well as introducing more competitive offers to customers.
The expansion into the East Midlands comes alongside Mole Valley’s ongoing growth within its traditional markets of the South West and Wales. In September, the firm opened a new 10,000 sq ft store in Eastgate, Bristol and this month it will unveil a 20,000 sq ft store in Bridgend, South Wales – both of which will trade under the Scats Countrystores subsidiary brand.
