Michelmores advise Mole Valley Farmers on acquisition of Farmway
A team from the Business Group at Michelmores Solicitors has advised Mole Valley Farmers on the acquisition of rural retail and agricultural business, Farmway.
Mole Valley Farmers was founded in 1960 by a small group of farmers in South Molton, Devon and announced earlier this year that its turnover for the last year was up at £350.4 million.
Mole Valley Farmers acquired Farmway at the end of March for an undisclosed sum.
Farmway was established almost 50 years ago through an amalgamation of three agricultural cooperatives. The Farmway business specialised in selling animal feeds, processing and dressing of cereal seeds, fertilisers, and also the drying, storage and marketing of grain. The acquisition includes eight retail stores which are located in the North East.
The acquisition extends Mole Valley Farmers geographic trading area from Cornwall to the Scottish Borders. As a result of the acquisition Mole Valley Farmers will have a total of 50 rural retail stores as well as feed mills, blending operations and a specialist mineral plant.
The acquisition follows Mole Valley’s purchases of CWG in the Midlands and East Anglia (now trading as Mole Country Stores) and Buckingham based animal health and nutrition specialist, Cox & Robinson.
Andrew Chapple, Group Company Secretary of Mole Valley Farmers said:
"This is the first time Michelmores have acted for us for a corporate transaction and we have been very impressed with the service. We found them to be very efficient and well organised bringing value to the process."