26 July 2002

PF & K sells off livestock trade

PENRITH Farmers & Kidds announced this week that it had sold its entire livestock business, including most of its auction marts, to Carlisle-based Harrison & Hetherington.

The deal, which will take affect from Sept 1, will mean the closure of the companys main mart at Penrith and has sent shockwaves through Cumbrias livestock sector.

Earlier this week Richard Morris, PF & Ks managing director, had denied rumours that a sell-out was imminent. He was unavailable for comment as the take-over was announced.

PF & K was the UKs largest auctioneers of breeding sheep. While the deal with &#42 & &#42 will see major sheep sales at Kirkby Stephen, Lazonby, Middleton-in-Teesdale and St Johns Chapel continue, the closure of PF&Ks flagship auction mart at Penrith removes a strategically important centre for the countys farmers.

PF & K plans to expand its business activities in land and estate agency, fine art and furniture, finance and food processing. It will retain its abattoir at Blackpool and the Cumbrian Fellbred marketing initiative. &#42