Animalcare sells Fearing International
Fearing International, the Northampton-based agricultural mail order company, has been sold by its parent company Animalcare. The business has been bought by Tru Test UK, alongside another Animalcare subsidiary, for £3.25m.
Livestock equipment company Tru Test UK purchased Fearing and Ritchey Limited after Animalcare announced it was looking for a buyer for its agricultural subsidiaries on 14 September.
James Lambert, chairman of Animalcare, said the company had decided to focus “all its resources on optimising the growth of the veterinary business”.
Animalcare said it will decide how to re-invest the proceeds of the sale in the next few weeks. In July, it announced a 15 per cent rise in revenue underpinned by “strong performances across the product range”.
Paul Johnson, a partner at Irwin Mitchell and legal adviser to Tru Test Group, said: “We are delighted to have been able to help our client to complete this deal. Tru Test is a world leading livestock equipment business and this purchase will now give them a more direct presence in the UK to build upon and will strengthen their product offering globally."
