AGRO Merchants Whitchurch takeover drives further growth

Turnover at AGRO Merchants Whitchurch, the new name for Grocontinental after it was bought by the Dutch group in 2017, grew by 3.4% last year – but it has raised concerns over Brexit.

The multi-temperature warehousing and distribution company reported a turnover of £37.21m in the year ending 31 December 2018, which compares with £35.99m in the previous accounting period when pro rata’d.

During 2018, it sold its main site at Whitchurch, which resulted in a profit on disposal of fixed assets of £32.3m and led to a pre-tax profit during the period of £35.85m (£6.07m).

AGRO Merchants Whitchurch now leases the site from Whitchurch RE, whose directors are also directors of the logistics company.

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• Grocontinental sold to Dutch firm Agro Merchants Group

In its review of the business during the period, the directors said: “The business environment in which we operate continues to be challenging with both economic and political uncertainty, related primarily to Brexit, being at the fore of those challenges.”

Netherlands-based AGRO Merchants Group announced it had bought Grocontinental, which was established in 1941, in December 2017 for an undisclosed sum.

David and Linda Grocott, third generation owners of Grocontinental, continued in the new business as joint MDs and resigned from AGRO Merchants Whitchurch in June 2019.

The company did not respond.