14 May 1998
CWS Agriculture to buy Broadoak
CWS Agriculture is to buy Broadoak Farming in an agreed merger.
Broadoak is a leading farm management group formed through a £7 million management buy-out from Booker in 1996. It farms more than 12,141ha (30,000 acres) from the Scottish borders to Wiltshire. CWS Agriculture farms more than 20,235ha (50,000 acres), making it the largest farmer in the UK.
Broadoak said last month that the 1997 harvest had produced lower yields. This, combined with sharp price falls for most products, cut profit margins significantly. It said it had budgeted for a partial improvement in 1998 but margins were expected to remain well below 1996 levels.
- Financial Times 14/05/98 page 32