The company announced it will quit ’operational farming’ and instead focus on partnerships with agricultural businesses.
The arable crop producer and land manager – previously under the Co-op Farms umbrella – said it was in talks about a series of partnerships with farm businesses to ‘increase the economic resilience of its farms and ensure their long-term prosperity’.
The board said it had striven to improve the productivity and performance of its farms since it was bought by the Wellcome Trust in 2014.
Its fruit business will be sold as a standalone entity.
Farmcare chief executive Richard Quinn said: “The last three years have seen Farmcare develop a strong team which has put a huge amount of work into modernising and restructuring of the business so that it is able to operate as a standalone entity.
“I am now confident it is in good shape and ready for the next chapter of the Farmcare story.”
Farmcare currently operates across the UK from 11 locations over 12,827-hectares (31,696-acres), farming two fruit estates and a range of crops including potatoes, cereal and vegetables.
“I am really proud of the work that has been done, but like all industries farming faces many challenges,” Mr Quinn added.
“These decisions will lead us to partnering with resilient businesses who take over the day-to-day farming operational management and we are currently in negotiation with a number of potential partners, which would secure our farm-based colleagues’ future.
“In the short-term there will be no change to operations on our farms.”
As part of the move, the central office in Barnsley, South Yorkshire, will be closed and Farmcare will cease operational farming before September 2018.