Irish agri-services group Origin Enterprises has acquired British Hardwood Tree Nursery (BHT) for an undisclosed sum.
BHT is one of the UK’s leading specialist wholesale suppliers of bare root trees, shrubs, hedgerow plants and planting accessories to the forestry, farming, estate management, corporate and landscaping sectors.
Origin Enterprises chief executive Sean Coyle said: “The addition of British Hardwood Tree Nursery complements recent acquisitions and further strengthens the group’s amenity, environmental and ecological portfolio.
“Tree planting will continue to play an important role to help tackle climate change and restore biodiversity.
“We welcome British Hardwood Tree Nursery to the group and look forward to working with the team, utilising their expertise in offering planting advice, horticulture and the supply of quality plants.”
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Revenue at Origin grew almost 35 per cent in the first half of the financial year as price inflation and strong volume growth in some of its markets boosted the company.
But underlying business volumes fell and operating profit was lower in the UK and Ireland, its interim results showed.
The first half of the year, which ended January 31st, 2023, showed strong performance driven by the contribution from the Dublin-listed group’s Latin America business and continental Europe, offsetting weaker operating profit in Ireland and the UK, which fell from €3.2 million to €2.9 million.
Revenue grew 34.5 per cent to €1.18 billion as commodity-led price inflation of 40.2 per cent combined with early season seed and crop protection volumes, and strong volume growth in Latin America. Operating profit almost doubled to €20.3 million, up from €11.1 million a year earlier.
