Usborne buys into northern grain
LESS than two weeks after selling its pig business, Hants-based Usborne has taken over the grain trading operation of Humberside-based Cranswick Mill for just over £1m.
The deal strengthens Usbornes position in the north and adds about 150,000t of business to the 1m tonnes it trades already.
Most of the purchase price is to pay for stocks, explains Usborne managing director, Mike Adams. But it has not cut into the £5m the group netted from the pig sale to BOCM Pauls, he adds.
In a separate deal, Usborne is to lease Cranswicks 25,000t grain store at Driffield. No further acquisitions are anticipated in the immediate future. *