8 September 2000

GORDON & Innes, the north-east of Scotland seed potato business that went into receivership last month owing more than 7m, has been bought by the Higgins Group.

A statement from joint receivers Iain Bennet and Laurie Manson of Pricewaterhouse-Coopers said: Agreement has been reached with the Higgins Group for the sale of the seed potato business and assets of Gordon & Innes.

It was anticipated that legal formalities would be completed by this weekend, the statement added. It remains to be seen whether money owed to the 50 farmers who were contracted to grow seed potatoes for G&I will be paid as part of the deal.