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Countrywide in 'exclusive talks' with Mole Valley Farmers

Countrywide Farmers announced it was looking to sell retail stores in May.


Alex   Black

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Alex   Black
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Countrywide in 'exclusive talks' with Mole Valley Farmers

Countrywide Farmers Plc has confirmed it has entered ‘exclusive discussions’ with Mole Valley Farmers Ltd.

 

The company added it was targeting completion by the end of the year.

 

Retail

 

In a statement, the directors of Countrywide said: “This represents an excellent opportunity to secure the future of the retail business with an established sector leading company for our customers and employees.”


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Countrywide Farmers looks to sell retail stores following February closures Countrywide Farmers looks to sell retail stores following February closures

It also announced it had completed the sale of its 80 per cent shareholding in MSF Welland Valley Feeds Ltd to the management team for £1m. The proceeds from the sale will be used to reduce bank facilities.

 

Turf and Amenity

 

It added it was in ‘the process of winding down and transferring’ its Turf and Amenity business to an alternative provider, enabling the Turf and Amenity team to continue to serve customers under new ownership.

 

“We are encouraged to report that trading performance in the LPG business continues in line with expectations,” it added.

 

“In light of the developments confirmed today, the Countrywide Board has taken the decision to suspend trading in its shares with immediate effect.”

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