TERMS AGREED FOR SUNDERLANDS TO PURCHASE BRIGHTWELLS STAKE IN HEREFORD MARKET AUCTIONEERS

TERMS AGREED FOR SUNDERLANDS TO PURCHASE BRIGHTWELLS STAKE IN

HEREFORD MARKET AUCTIONEERS

Terms have been agreed between Sunderlands 1862 LLP (Sunderlands) and Brightwells Ltd (Brightwells) for the purchase by Sunderlands of Brightwells’ minority shareholding in Hereford Market Auctioneers (HMA). 

HMA has been holding livestock sales at the Roman Road Livestock Market since 2011, having had a presence in the city under Royal Charter for well over 150 years. The largest auction centre for the sale of farm livestock on the Welsh borders, the company has been under the direction of Sunderlands and Brightwells, with Sunderlands holding a majority share.

With both companies focussing on their strategic vision for the future, it has also been agreed that Builth Market will come under the umbrella of HMA’s activities, running alongside Talgarth Market, so creating a thorough regional coverage for livestock auctioneering.

Commenting on the acquisition, the Directors of Sunderlands  released the following statement;

“Sunderlands continue to look to the future with the expansion of our livestock business. Sunderlands mergers and acquisitions continue with the largest yet in the purchase of Brightwells livestock business comprising their shares in HMA and the lease of Builth Wells Market. Previous acquisitions have included Hammonds (previously part of HMA), HP Barnsley, Thompsons, Springfield Property and Turner & co.

The current situation has underlined how important it is to have a thriving home grown food industry and with this in mind Sunderlands took the view to invest further in HMA and take on Builth Wells market to add to Talgarth market which also takes place every Friday. Powys has the highest density of sheep in the world and therefore further investment in this crucial part of the food chain would seem obvious to expand our part of the promotion of British Agriculture.

Sunderlands offer a full range of professional services including Residential, Rural and Commercial agency together with the livestock auctioneering department”

 

Joint Managing Directors, Nick Gorst and Richard Binnersley, of Brightwells said:

“Brightwells Livestock is a fantastic business and we are proud of the role it has played in our 174-year history. This sale of the livestock enterprise will allow us to focus and redeploy resources in our already established markets, such as Rural Professional Services, and develop into new ones. We believe that selling our share in the HMA business to Sunderlands and with Builth Market joining HMA that this transaction can only benefit the industry.”

 

Enquiries

Sunderlands:

Richard Hyde (Rural & Livestock)

Matthew Nicholls (Rural & Livestock)

 

r.hyde [at] sunderlands.co.uk

m.nicholls [at] sunderlands.co.uk

 

Brightwells:

Irving Parry, Chairman

irving.parry [at] brightwells.com

 

Nick Gorst, Joint Managing Director

gorst [at] brightwells.com

 

Rich Binnersley, Joint Managing Director 

r.binnersley [at] brightwells.com

Notes:

About Sunderlands

Sunderlands, originally known as F.H. Sunderland & Co was founded in 1862 and has continued to trade in and around the city and county of Hereford as Auctioneers, Estate Agents and Valuers. Within the company there are seven rural practice chartered surveyors and three general practice and commercial chartered surveyors providing a wide range of professional services to property owners and occupiers, covering all aspects of professional work. Sunderlands has a proud heritage dating back over 150 years and it is their objective to continue to deliver in to the future the level of service and excellence that is associated with the name.

About Brightwells

Brightwells is the leading multi-faceted auction house in the United Kingdom. Having established in 1846, the business now encompasses leading market status in auctions of Vehicles, Machinery, Classic Cars, Fine Wines, Farms and Land. The company also provides professional and agency services to land and property owners.

In the UK, Brightwells annually serves more than 50 thousand businesses and members of the general public. In 2019, the business turned over in excess of £75M in sales of goods and services.

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