The auctioneering business of Cumberland and Dumfriesshire Farmers Mart (C&D) has been sold by administrators FRP to C&D Auction Marts and one of Scotland's oldest auction firms, Thomson, Roddick and Laurie.
The deal, which is for an undisclosed sum, sees the trading business of C&D transfer to auction businesses backed by the Thomson family.
C&D has operated livestock auctioneering marts at Longtown, near Carlisle and in Dumfries.
Longtown is Europe's largest sheep market and the company also provides professional land and estate agency, and valuation and survey services through C&D Rural which is also part of the deal.
The sale secures the jobs of all 70 full and part-time staff.
All consignors of livestock in recent days will be paid in full under the terms of the deal which has been agreed.
John Thomson, a director of Thomson, Roddick and Laurie who, along with his brother Stuart, will be leading the new company through its early stages, said: "We are delighted to have acquired the C&D business which provides a vital livestock auctioneering and land agency facility to the farming community.
"We will be busy from day one continuing and further developing the busy sales programme with the help of the existing staff team and we will, of course, be working hard to ensure that we continue to enjoy the support of the agricultural community."
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