- New Holland has announced that Rea Valley Tractors Ltd have reached agreement in principle to acquire neighbouring New Holland dealership, Teme Valley Tractors who have branches in Knighton and Welshpool
- Heads of Terms are agreed and both parties will now work towards a completion by the end of September 2023
Rea Valley Tractors will continue to offer the full range of New Holland products and parts from both Knighton and Welshpool including; Tractors, Combines, Forage Harvesters, Telehandlers, Balers and New Holland branded Implements. Full Service and Aftersales support will continue from each branch. Both Teme Valley depots will trade under the Rea Valley Tractors name from the end of September with the retention of the staff and management at the depots.
Rea Valley Tractors will now provide exclusive distribution throughout their territory from their depots at Shrewsbury and Newport in Shropshire, Middlewich in Cheshire, Denbigh in North Wales, and Ormskirk in South Lancashire after the departure from the New Holland network of the former dealers in the area in addition to the Powys expansion.
Rea Valley Tractors Chairman, Simon Clarke commented “We are very pleased with the progress we have made in our first year as New Holland dealers. I am delighted that we have reached an agreement with Teme Valley, and to have the support of Graham, Martyn and the TVT team. We aim to maintain and grow relationships with farmers and businesses throughout the region. This further demonstrates our commitment to the New Holland brand”
Teme Valley Tractors owner, Graham Probert said “We are very pleased with this outcome, which will allow myself, Martyn and the TVT team now under the RVT banner to continue to support our current and future customers and take the New Holland brand forward.”
David Rapkins, New Holland Business Director UK & ROI, added “We are delighted that these two strong Dealers have reached an agreement to continue serving and supporting our customers in Powys. We would like to express a heartfelt thank you to Graham Probert and Martyn Hall and the wider TVT team for their dedication, support and the results achieved over the years and are delighted that they and their staff will remain with Rea Valley Tractors. Going forward we have every confidence that Rea Valley Tractors will build on the success of Teme Valley.