FARM management and advisory company, Booker Farming, has been acquired in a £7.1m management buyout, led by chief executive Peter Johnson.
The company currently has contracts with over 50 landowners on about 22,000ha (54,000 acres), with a turnover of £10m and a staff of more than 100. It plans further growth in its managed acreage. The £7.1m price ticket also includes debt repayment, with £2m to be paid between May 1996 and September 1998.
Booker chief executive, Charles Bowden, said the disposal was another step in the strategy of focusing only on those agri-businesses with international growth potential. *