Terms Agreed For Tattersalls To Purchase Brightwells Bloodstock Sales
Terms have been agreed between Tattersalls Ltd (Tattersalls) and Brightwells Ltd (Brightwells) for the purchase by Tattersalls of the bloodstock sales conducted by Brightwells.
Brightwells has been holding bloodstock sales at Cheltenham Racecourse since 2009 and Ascot Racecourse since 1990. In 2014 Brightwells held six sales at Cheltenham for a total sale ring turnover of almost £12.3 million (2013: £11.6 million) and nine sales at Ascot for a total sale ring turnover of more than £2.2 million (2013: £1.5 million).
Brightwells bloodstock sales have focused on the National Hunt sector of the bloodstock market, a sector in which Tattersalls in the United Kingdom has no presence, and the proposed acquisition will enable Tattersalls to serve a wider range of breeders, racehorse owners and trainers, as well as adding two further auction sites to the Tattersalls headquarters in Newmarket. It is expected that members of the bloodstock team at Brightwells will be transferring to Tattersalls on completion of the transaction.
Commenting on the acquisition, Tattersalls Chairman Edmond Mahony said;
“Tattersalls is delighted to have reached agreement with Brightwells, whose sales have been a great success in recent years. We look forward to continuing to develop the sales and to widening the choice available to buyers and sellers in the UK National Hunt market. This is an exciting addition for Tattersalls and we are also very much looking forward to working with the management teams at both Cheltenham and Ascot Racecourses.”
Irving Parry, Chairman of Brightwells said:
“Brightwells Bloodstock is a fantastic business and we are proud of the role it has played in our history alongside our general horse sales. This sale of the bloodstock enterprise will allow us to focus and redeploy resources in our already established markets and develop into new ones. We believe that selling our bloodstock business to a company such as Tattersalls can only benefit the industry, making available the extra investment that Tattersalls will be able to offer.”
Edmond Mahony, Chairman 01638 665931
Jimmy George, Marketing Director 01638 665931
Brightwells: Nick Gorst, Joint Managing Director 01568 611166
Richard Binnersley, Joint Managing Director 01568 611166
Tattersalls, which was founded in 1766 by Richard Tattersall, is the oldest bloodstock auctioneer in the world and the largest in Europe. Tattersalls is an international firm offering 10,000 thoroughbred horses each year at 18 sales at its Newmarket headquarters in England and in Fairyhouse, outside Dublin, Ireland. In 2014, Tattersalls’ total ring turnover was over £286 million, including over £35 million in Ireland.
Brightwells is the leading multi-faceted auction house in the United Kingdom. Having established in 1846, the business now encompasses leading market status in auctions of Vehicles, Machinery, Fine Art, Horses (excluding bloodstock), Livestock and Land. The company also provides professional and agency services to land and property owners.
In the UK, Brightwells annually serves more than 50 thousand businesses and members of the general public. In 2014, the business turned over in excess of £100M in sales of goods and services.