Wrekin Farmers in big shake-up

Shropshire-based Agricultural supplier Wrekin Farmers Ltd is undergoing a major restructuring - including a merger with ACT (Agricultural Central Trading) Ltd - in a bid to increase profitability and protect the future of workers.

Group managing director Peter Woolmer is to take early retirement after 15 years - and 43 years in the agricultural business as a whole.

The company's grain division is to be run as a separate limited company with immediate effect, following a management buyout. Under the name of Wrekin Grain Ltd, Stuart Dolphin will remain with his team, with all credit insurance policies, contracts, and financial security being transferred.

The remainder of the agricultural division and the feed, fertiliser, crop protection, seed and fuel operations will merge with ACT Ltd, of Chesham, Bucks, on May 31.

All Wrekin Farmers sales and support staff will remain at Allscott, said Mr Woolmer.

ACT Ltd is a farmer-controlled business operating nationally and covering all the main product groups as Wrekin Farmers do now.

Their annual turnover is in excess of £65 million, representing one of the largest agribusinesses in the UK. They are one of the three largest fertiliser sellers in the country.

Chairman Jim Roberts, the managing director and the board believed the move was in the best interests of shareholders, the company and the staff, said Mr Woolmer.

"All existing customers will be able to trade in a more positive way with ACT-Wrekin Ltd due to their size and great buying power," he added. "It will allow all our customers who have dealt with WF Ltd for many years to have the best advantages of a very large business.

"WF Ltd will still own all properties and land at Allscott and Wellington, with ACT Ltd and Wrekin Grain Ltd renting space from us.

"WF Ltd will now continue warehousing at Allscott and operate the two retail shops at Wellington and Stafford. This should produce the profitability and dividend payments that all shareholders have wanted for a long time."

"The aim of the restructure was to look after the future of the business as a whole," Mr Woolmer added.