Countrywide Farmers to focus on its Equine Multichannel Retail businesses
Leading supplier of products, services and advice to the rural community, Countrywide Farmers, has announced the disposal of its Farm Livestock Feed and Forage, Arable Products and Crop Marketing businesses for a total combined consideration of £18.4m.
“This has been a difficult decision”, said John Hardman, Countrywide Farmers Chief Executive, “and comes at the end of a significant strategic review of how best we can deliver sustainable improvement in shareholder value.”
“We have concluded that Countrywide Farmers can best serve its customers and shareholders by investing in our Countrystore network and multichannel platform rather than our direct to farm business,” continues Mr Hardman.
The disposals will allow the Company to focus and invest in their Countrystore retail network of 53 stores across England and Wales, its Energy business which supplies bulk LPG and bottled gas to the rural community and its Turf and Amenity business which is developing a strong market position. The Directors believe that Countrywide holds a competitive advantage in these areas and that these three businesses have the potential to deliver long term growth.
“This represents a significant opportunity for the Equine business within Countrywide,” comments Sara Blackshaw, Countrywide’s Equine Category manager. “We have seen the business grow substantially over the last 3 years and we are in a strong position to continue this growth with our new corporate focus.”
Mr Hardman agrees, “Focusing the business on areas where we have a leading position and where we can generate strong returns is a key part of our strategy and will allow us to deliver enhanced shareholder value over the medium and longer term. The business is now well financed to ensure that we can successfully deliver on this strategy and we look forward to ensuring the Equine business continues developing its strong position.”
“Finally I would like to thank all the staff who have worked within the businesses that we are selling. We are very grateful for their contribution and I sincerely hope that they will thrive following this new step for those businesses,” concludes Mr Hardman.
Find more information about Countrywide at www.countrywidefarmers.co.uk