Background
Based in Somerset, Wessex Grain was established in 1980 as a small farmer co-operative. Since then, it has grown to become one of the top-10 grain traders in the UK. The farmer-owned business is a long-standing client of Thrings.
Cefetra is part of German agriculture, building materials and energy organisation, BayWa. BayWa supplies approximately 30 million tonnes of agricultural commodities each year, via its eight offices in Europe and Canada.
Our involvement
Thrings and Wessex Grain began working together in 2006, with Thrings providing advice on employment, agricultural, environmental, planning, property, commercial and corporate matters.
The takeover by Cefetra called for a seamless working relationship between Thrings’ Corporate Teams in Bristol and London, to assist Wessex Grain in this significant transition.
Under the terms achieved in the transaction, Wessex Grain established a new independent co-operative storage business – Wessex Grain Store Cooperative Ltd – which leased storage facilities and entered into a marketing agreement with Cefetra.
The completion of the deal followed the unanimous approval of Cefetra Limited’s recommended takeover offer by Wessex Grain’s board of directors and near-unanimous support of its 268 farmer shareholders.
The outcome
Becoming part of a global agri-trading business enabled Wessex Grain to remain as a leading merchant and a major force in its key regions, offering competitive prices, professional support and personal service tailored to farmers’ requirements.
Simon Wilcox, managing director of Wessex Grain, said: “Having worked with Thrings over a number of years, Mike and the team fully appreciated our commercial objectives and responded accordingly to complete what was a complex deal, involving a number of strands and a large number of shareholders. We are extremely pleased with Thrings’ work.”
For further commentary on this case, or to discuss any corporate-related issue, please contact a member of Thrings' Corporate team.
