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News Release

Newcastle

Jones Lang LaSalle advise Mole Valley Farmers on acquisition of Farmway


NR6574 Farmway 1.jpgNewcastle, Friday 5th April 2013 – Jones Lang LaSalle has advised Mole Valley Farmers on property matters relating to their acquisition of rural retail and agricultural business, Farmway, whose head office is based at Piercebridge, Darlington.

Devon based Mole Valley Farmers was started in 1960 by a small group of farmers around South Molton.  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.

The acquisition of Farmway is a natural extension to Mole Valley Farmers existing business, providing them with a presence in the North East of England.  Jones Lang LaSalle’s Newcastle office were instructed to provide valuation advisory and building 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 commented: ‘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 ’.

Andrew Chapple, Group Company Secretary of Mole Valley Farmers added: ‘Jones Lang LaSalle worked to tight timescales to deliver highly professional advice which really added value to our acquisition.’

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 offering farmers and country dwellers a comprehensive range of products including; Clothing and Footwear, Pet and Equine Supplies, Household, Gifts and Pest Control as well as Agricultural Sundries

Notes to editors:

Farmway has stores in Alnwick, Ripley, Stokesley, Piercebridge, Hexham, Thirsk, Driffield and Leyburn.