14 August 1998


&#8226 LINCS-based seed producer and merchant W W Johnson & Son has been bought by Perryfields Holdings.

The deal, which was done less than two weeks after the £16m turnover Johnson went into receivership, will see just under half of the 154 employees keep their jobs.

Roy Harris, managing director of Perryfields, said Johnsons expertise in the amenity market was of particular appeal to his company which sells seeds and conducts research and development. Sales will be doubled as a result of the acquisition.

&#8226 UK farmings indebtedness continues to rise as struggling producers turn to the banks to help them through the current crisis.

Latest figures from the Bank of England show total lending to agriculture increased again in the second quarter of the year and now stands at just short of £7bn. At current rates, that costs the industry over £500m a year in interest charges. &#42

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