17 May 2000
Farmers First to float from July
By FWi staff
SHARES in Farmers First, a new initiative set up to export British sheep carcasses to Europe, will be floated on 1 July, the company has confirmed.
Farmers First plc is the holding company for Farmers Fresh and Farmers Ferry, the export company which last year sent 1.1 million live sheep to the Continent
Terry Bayliss, chairman of Farmers Ferry, said the company expected to raise in the region of 400,000 but would like as much as 2m.
“It is an opportunity to get away from the clutches of supermarkets, which are crucifying farmers, and to increase sales and price,” he said.
Shareholders stock will be sources in preference to on-shareholders animals, although organisers are hoping that not just producers will get involved.
Farmers Fresh began exporting carcasses at the beginning of May from a Warwickshire abattoir which can slaughter up to 15,000 sheep a month.
The abattoir is currently leased, but will be bought outright if it proves to be a success and if enough money is raised by Farmers First.