Sales to restart at Builth Wells mart following acquisition

Livestock sales are set to resume at the Welsh livestock mart today
Livestock sales are set to resume at the Welsh livestock mart today

Livestock sales will re-commence at Builth Wells livestock mart after the purchase of Brightwells' livestock business by Sunderlands.

Terms have been agreed between the two companies for the purchase of Brightwells' minority shareholding in Hereford Market Auctioneers (HMA).

It has also been agreed that Builth Market will come under the umbrella of HMA's activities, running alongside Talgarth Market.

The Welsh livestock mart has now re-opened today (10 July) with the sale of prime lambs and cull ewe sales.

It closed in March when the coronavirus lockdown came into effect, and was subsequently faced with the possibility of permanent closure.

Commenting on the acquisition, the directors of Sunderlands said the acquisition was the 'largest yet' for the firm.

"The current situation has underlined how important it is to have a thriving home grown food industry," the company said in a statement.

"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."

Nick Gorst and Richard Binnersley, join directors of Brightwells said the sale would allow the firm to 'redeploy' resources in 'already established markets'.

"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.”