Durham agricultural retailers taken over in acquisition deal
An acquisition deal will see a Durham-based agricultural retailers taken over as Mole Valley Farmers expands across the UK.
Farmway, whose head office is in Piercebridge, County Durham, have been acquired by Mole Valley Farmers providing them with a presence in the North East.
Jones Lang La Salle have been advising the Devon-based company on the property matters relating to the acquisition deal.
They have been instructed to carry out valuation, advisory and surveying services on Farmway’s property portfolio which includes eight country stores all located in the North East.
Roger Speirs, Head of Valuation at Jones Lang LaSalle’s Newcastle Office said: ’In addition to the country stores we also advised on the Piercebridge property which includes a grain store, feed mill and head office.
“The instruction was co-ordinated from the Newcastle office but utilised resources from our Leeds office to cover the properties in North and East Yorkshire.
“As well as producing reports, we provided advice throughout the negotiations both on the value of the properties, potential liabilities and planned maintenance costs ’.
This latest deal follows Mole Valley Farmers purchases of Buckingham based animal health and nutrition specialist Cox & Robinson and Lincolnshire based CWG Ltd, which included 11 retail stores in East Anglia and the Midlands.
They also have 9 retail branches in the South West and 21 SCATS Country stores across the South and South East of England along with strategically based manufacturing sites and distribution locations.
Farmway was formed in 1964 by the amalgamation of 3 co-operatives, Teesside Farmers, Northern Farmers and East Yorkshire Farmers.
The business specialises in animal feeds, the processing and dressing of cereal seeds, fertilisers, and also the drying, storage and marketing of grain.
Over the past 5 years, Farmway has diversified into rural retailing including, clothing and, pet and equine Supplies, household, gifts and pest control.
Devon based Mole Valley Farmers was started in 1960 by a small group of farmers around South Molton.
Andrew Chapple, Group Company Secretary of Mole Valley Farmers said: ‘Jones Lang LaSalle worked to tight timescales to deliver highly professional advice which really added value to our acquisition.’
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