Feeds company sale is delivered
WNJ provided corporate finance and tax advice to a Lancashire based animal feed products business during its successful sale process.
Family run McGuinness Feeds, based in Penwortham, which will celebrate 50 years in business next year, has been acquired by SugaRich, Europe’s leading provider of sustainable surplus food solutions for the food and feed sector.
The deal grows SugaRich’s market presence while ensuring the continued presence of a respected industry name. McGuinness Feeds will continue to trade under its own brand.
McGuinness Feeds was founded by Tony McGuinness in 1976 and pioneered the direct transportation of wheat-feed from flour mills to animal feed manufacturers using its own fleet of trucks.
It established a trusted supplier base, working closely with long-term partners in the industry. Under the subsequent leadership of Tony’s sons Anthony and Barry, the business has grown from 1,500 tonnes per month in its early years to 15,000 tonnes per month today and a turnover of £40million.
The WNJ team, which was led by partner Paul Woodburn and included senior tax consultant Steve Towler, advised the company and the McGuinness family throughout the sales process on all tax and corporate finance matters.
It also worked to convert the McGuiness Feeds partnership into a Limited Company in order to facilitate the deal. Vincents Solicitors provided legal advice and guidance.
The acquisition was part of a carefully planned transition as Anthony McGuinness prepares for retirement.
SugaRich saw the opportunity to invest in the McGuinness Feeds brand and business, ensuring its continuity under Barry McGuinness’ leadership.
The sale assures ongoing relationships with suppliers and customers, while preserving the trusted reputation that McGuinness Feeds has built over the decades.
SugaRich and McGuinness Feeds have maintained a strong trading relationship for more than 35 years, both supplying and purchasing wheat-feed.
Founded more than 50 years ago, SugaRich works with food manufacturers to reduce waste and repurpose surplus products.
Andy Newton, chief executive of SugaRich, said: “McGuinness Feeds has a remarkable history, and we are honoured to continue their legacy while leveraging their expertise to enhance our offerings.”
Barry McGuinness said: “WNJ’s service, help and advice over the years has been invaluable.”
• To discuss how WNJ can help and support your business please contact me on 01772 430000
