A H Worth & Co. Ltd. (AHW Group) announces this week the acquisition of Teknomek Ltd., the leading supplier of stainless steel hygiene equipment to the Food, Pharmaceutical and Healthcare Industries for an undisclosed sum.
Lincolnshire based A H Worth & Co. Ltd is a family run food & agribusiness company, turning over c.£75m processing, farming, and trading fresh vegetables and potatoes through its subsidiaries Worth Farms Limited and QV Foods Limited.
Following a strategic review last year, the Group has decided to broaden its activities to include non-Food businesses. Already a customer of Teknomek, the Group was familiar with its business and could identify synergies. Teknomek is AHW Group’s first non-food acquisition.
The AHW Group was advised by PriceWaterhouseCoopers (PWC) on the acquisition, the completion of which further enhances the financial strength of the Group.
Tom Worth, Development Director of AHW Worth and the new Managing Director of Teknomek said: “We are very pleased to welcome Teknomek into the AHW Group and believe there is a great opportunity to grow the business. We are looking forward to doing more deals like Teknomek.”