United Oilseeds expands with Hubbards seed acquisition
Farmer-owned co-operative United Oilseeds has bought Midlands seed merchant, Hubbards Seeds, for an undisclosed sum.
Established in 1882, Hubbards specialises in supplying seed for game cover, forage crops and grass leys, and has a 600-strong base of customers across Leicestershire, Lincolnshire and Nottinghamshire.
Hubbards will continue to trade under its own separate identity, headed by Barnaby Patchett.
The move brought new product choice to existing customers of both businesses, said Chris Baldwin, managing director at oilseed rape specialist United Oilseeds.
“The acquisition is part of a planned strategy for growth set by the Board of United Oilseeds, and shows how we are investing in the future for the benefit of our co-operative members.”
The co-op had consistently grown its turnover and profits over the past five years, enjoying a 4% rise in turnover in the year to June 2013, to £241m. Profits soared by 47%, to £1.8m, while net worth grew by 15%, to £6.8m. United Oilseeds has made profit redistributions totalling over £2.2m to its trading members.
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