Purchase and Consolidation
In 1992, the Wilson family decided to dispose of their interests in feed compounding and the three companies were purchased in a management buyout (MBO) led by three senior employees, financed by the Bank of Ireland, and supported by Andrews Holdings Ltd. There now followed a period of stability and 5 years profitable trading: during 1995 the company produced in excess of 160,000.00 tonnes of animal feeds with a value of approximately £27,500,000.00.
During 1996, consideration was given to the future and the consolidation of Andrew's feed output with Wilsons. It was decided to close one production plant with a number of redundancies and an overall decrease in unit costs. However, against the advice of the Wilson directors, the Northern Road plant was closed and production transferred to Andrew's Percy Street Mill. A new company, A W Feeds Ltd was then formed to acquire the assets both of Wilsons Feeds and Andrews Milling and the Wilson name ceased to exist and the companies were wound up. The three original directors who had been instrumental in the original MBO sold their shares to Andrews Holdings Ltd, and, disagreeing with the new format, resigned. There is an interesting and ironic sequel: in 2000, A H Feeds Ltd was sold to a new company, United Feeds Ltd. which is jointly owned by United Dairies Ltd and Andrews Holdings Ltd: part of this deal meant the closure of the Percy Street Mill and the re-opening of the Northern Road facility.
Read more about this topic: Wilsons Feeds Ltd.
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