Animalcare deal close

The division consists of livestock tagging business Ritchey in Masham and Fearing International in Northampton.

Ripon-based Animalcare said the new buyer has given the company assurances that no jobs will be lost following the deal.

The new buyer is keen to expand the agricultural business which employs 59 people at Ritchey in Masham and 14 at Fearing.

In July the group said annual revenues in the agriculture businesses were nine per cent ahead of the same period last year thanks to a strong performance from Ritchey's electronic sheep tags. The sale is in line with Animalcare's focus on the more lucrative pet drugs business.

In July the pet drugs division reported a 20 per cent increase in annual sales.

The group is leading the market with innovative new drugs for dogs, cats and other household pets.

A particular success has been a new beef flavoured version of its generic heart drug Benazecare.

Two other new products were recently launched including an antibiotic called Enrocare, which treats a number of species, and a dog epilepsy drug called Phenoleptil.

A number of new products will come on the market this year, but the group is keeping them under wraps until the launch.