Agency will have 1,800 branches following latest acqu...

The Property Franchise Group is buying the Fine and Country chain, plus the membership body the Guild of Property Professionals.

The deal is worth some £15m in an initial payment and takes TPFG's network to about 1,800 lettings and estate agencies in the UK and overseas.

The chain and membership group are being acquired from Nurtur, a technology and communications supplier.

Gareth Samples, chief executive of TPFG, says: "The acquisition continues to deliver on our wider strategy of delivering breadth and depth to our network. It further enhances TPFG's recurring revenue streams, adds the additional dimension of licensing to its platform and one significant complementary service, printed marketing materials. I am really excited about working alongside Iain McKenzie and the team to continue the growth across the Group and providing additional benefits to our network."

And Iain McKenzie, chief executive of the Guild and Fine & Country, adds: "I am genuinely delighted and excited by the opportunities created by our two businesses coming together; placing The Guild and Fine & Country under an established and growing organisation, broadening TPFG's geographical footprint. We have a proven track record of delivering innovation and marketing services across our network, and, as a consequence of now being part of a larger group, our customers will benefit from existing supplier partnerships, allowing us to introduce significant additional benefits."

The Property Franchise Group's other brands are Martin & Co, EweMove, Hunters, CJ Hole, Ellis & Co, Parkers, Whitegates, Mullucks & Country Properties, and Belvoir.