Bosses of a leading distributor of animal feeds have taken control of the business in a centenary year. Martin Donnelly and Jackie Belfrage have taken over Chemicals and Feeds, based in Aylesford, near Maidstone, in a management buyout.

The firm celebrates its 60th anniversary next year but can trace its origins back 100 years to 1913 when its former parent company was founded.

The company imports fishmeal from most of the major producing countries in the world for the UK pet food and agricultural industry. It trades with countries across South America, Africa and Scandinavia.

The joint directors have bought a controlling interest in the company, which had a turnover of over £12m in the year to May 2013. The remaining shares have been retained by shareholders whose respective families were associated with the formation of the company in 1913. The buyout was completed with support from CV Capital, the corporate finance arm of accounting and business advisory firm Chantrey Vellacott DFK which has advised the firm on audit and tax issues since 1999, and HSBC.

Mr Donnelly has been with Chemicals and Feeds for more than 30 years in administration and trading, while Ms Belfrage joined the company in 2000 as accountant and company secretary.

Mr Donnelly said: “Chemicals and Feeds is firmly established as one of the leading traders of fishmeal for livestock feeding and we are delighted to have completed a deal which allows us to safeguard the long-term future of the business. We’ve enjoyed good growth over the years and the order book is in a very good position.”

He paid tribute to Mark Lamb from Chantrey Vellacott DFK and Debbie Clarke, head of corporate finance at CV Capital, for their understanding of the business and help in structuring the deal.

Ms Clarke, head of corporate finance at CV Capital, said: “Martin and Jackie have played significant roles in the success of the business over the years and I’m certain Chemicals and Feeds will continue to thrive with them at the helm.”