A FAMILY-OWNED investment company has bolstered its already growing portfolio after joining forces with a new business.

Milbank Group, the headquarters for which is located in Earl Colne, Colchester, has just announced the successful acquisition of Silostop.

Operating globally Silostop has been dedicated to helping farmers around the world produce better silage for more than ten years.

Silage is an essential element within the dairy and livestock sector and provides much needed feed for animals during the winter months.

The company is credited with pioneering an oxygen barrier silage film and continue to innovate with a wide range of products and systems within the agricultural sector.

Sean Milbank of Milbank Group said, “We have admired Silostop as a brand for a number of years and are delighted it will be joining our group.”

Although synonymous with precast concrete products, Milbank works with a diverse range of companies including Caman Cranes and ARK Agriculture.

They now plan on utilising the synergies between ARK Agriculture and their new acquisition to strengthen the future of both businesses.

Francis Auchincloss, managing director of ARK Agriculture, said: “This presents a great opportunity to build on consistent growth in the UK.

“It also provides a platform to bolster our presence nationally as well as internationally.”