Rumenco swoops for Net-Tex
Animal feed supplier Rumenco, based in Burton-on-Trent, has acquired rival company Net-Tex Industries.
The Nottingham office of law firm Geldards advised on the undisclosed deal alongside Birmingham-based PKF.
Nutrition supplement manufacturer Rumenco has supplied livestock farmers with feed supplements, minerals and nutritional products for more than 40 years.
Formed in 1983, Kent-based Net-Tex Industries supplies a range of products to the veterinary and agricultural industry.
After the deal has been completed, Rumenco and Net-Tex Industries will continue as independent businesses.
Rumenco chairman Frank Heap said: "There is a very good level of strategic fit between the two companies. Both are successful manufacturers of different but complementary ruminant product ranges. In addition, Net-Tex is active in equine and pet markets."
Geldards' partner Hugh Strickland added: "Rumenco has achieved outstanding growth in recent year's thanks partly to its focused export strategy. Net-Tex is a great fit with Rumenco’s existing portfolio and its strong customer base will further strengthen its foothold in the market."
Finance for the deal was provided by Lloyds Bank Corporate Markets.
