Dungannon-based gardening products manufacturer Westland Horticulture has acquired the assets of English company William Sinclair in a multi-million pound deal backed by Danske Bank.
William Sinclair, which is based in Lincoln in England, owns a number of successful garden fertilizer and chemical brands including J. Arthur Bower’s, New Horizon, Growing Success and Deadfast.
As part of the transaction Westland Horticulture will acquire the assets and brands previously owned by William Sinclair and the company will be delisted from the AIM market on the London Stock Exchange. The investment includes acquisition of trading premises and a state of the art manufacturing facility in Ellesmere Port, England.
With turnover in excess of £106m in its most recent financial year, Westland is one of the leading horticultural companies in the UK. Its growth has been achieved through a combination of organic growth and strategic acquisitions. The company last month announced plans to create 70 new jobs as part of a £9.6m investment in a new fertiliser plant in Co Tyrone, also supported by Danske Bank.
Westland Horticulture’s joint managing director Edward Conroy said the acquisition of the assets of William Sinclair Holdings would further expand its footprint in the UK market and complement its existing business. Westland Horticulture’s acquisition was supported by a multi-million pound loan facility from Danske Bank.