United Auctions has hinted at a possible takeover of troubled rival Caledonian Marts.
The Stirling-based livestock auctioneers, which this week hosted the famous Stirling Bull Sales, says it has registered an interest in Caledonian Marts.
Cally Marts, which is also based in Stirling, held a special general meeting last month to come up with a rescue plan to save the business which has nearly £4 million of hard or impossible to recover debt.
Members of the firm, which is a farmers’ cooperative, voted in favour of a plan to either raise funds through a new form of investor shares, or to put the mart and its 14-acre site up for sale.
If the site was to go up for sale, Caledonian Marts said it hoped to find a buyer who would lease the mart back to it.
United Auctions yesterday confirmed it had registered an interest in Caledonian Marts.
Executive chairman David Leggat said: “Obviously, we’re interested in the situation and have many mutual customers.
“The process is subject to a confidentiality agreement, which we clearly want to respect.”
The group’s joint managing director Robin Tough added: “Our priority is to continue to focus on farmers’ requirements and respond to changes in the market place.
“We have reviewed our sales calendar to allow back end sheep sales being held on Mondays with cattle-only sales on Wednesdays that will incorporate a prime cattle sale.
“Ultimately, we want to be prepared for all eventualities in order to service the needs of the wider farming community.”
Caledonian Marts also operates a market at Oban, which is leased and specialises in sales of store cattle and sheep as well as hosting breed society sales of Highland cattle.
The Stirling market holds weekly sales of store cattle and sheep on Mondays, prime and cast sheep on Tuesdays, and prime and cast cattle on Thursdays.