Wynnstay has acquired the business and assets of eight stores from Countrywide’s network of country outlets for a total initial consideration of £800,000, payable in cash on completion, to be adjusted for stock valuation.
The acquisition will affect stores in Wadebridge, Helston, Otterham, Dartington, Crewkerne, Raglan, Bridgnorth and Thame.
With five of the stores located in Devon and Cornwall, Wynnstay said the addition strategically extends its geographic reach in the South West of England, particularly in Cornwall, following an acquisition in the county in March 2018.
The remaining three stores, the company said, help to consolidate Wynnstay’s existing presence in Shropshire, Monmouthshire, and Oxfordshire. At completion, the total number of Wynnstay Country Stores will increase from 52 to 60 outlets.
Ken Greetham, Wynnstay’s chief executive, said: “We are very pleased to have acquired eight country stores previously operated by Countrywide Famers. Their addition increases our footprint in both our existing trading heartland, and in the South West of England, in particular giving us an increased profile in Cornwall and Devon.
“Farmers and the rural community are at the heart of Wynnstay’s offering and we look forward to welcoming new customers to the Group, as we introduce our products and services across these new stores.”