NWF Group, a specialist agricultural and distribution business, has acquired the entire issued share capital of SC Feeds Ltd, an animal feed manufacturer based in Staffordshire, for up to £6.75 million on a cash-free, debt-free basis.

This price comprised an initial consideration of £6 million in cash, which would be satisfied from NWF's existing banking facilities, and up to £0.75 million to be satisfied by the issue of new ordinary shares. The final quantum of the equity consideration payable would be determined following the agreement of completion accounts in early 2014. The acquisition would be earnings enhancing in the first full year, NWF said in a statement.