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Martin & Co franchisees acquire their biggest single competitor

ON THE MARKET

The Property Franchise Group has confirmed one of its largest ever single-office acquisitions.

Martin & Co Plymouth has acquired Executive Lets, said to be the city’s largest letting agents.

Chris and Merolyn Whitaker purchased the Martin & Co Plymouth franchise in April 2015. They had previously served 16 years in the Army’s Intelligence Corps.

Executive Lets, founded in 1966, will be rebranded as Martin & Co and incorporated fully into the agency’s existing operation.

The deal means Martin & Co Plymouth more than quadruples the number of properties it has under management, and will see its team grow more than three-fold.

Penny Sanders, executive head of franchising for The Property Franchise Group, said: “This really is an unprecedented move.

“The Martin & Co Plymouth team has enjoyed phenomenal success in a relatively short period of time, having launched as a cold-start business in a brand new franchise territory, and this deal is absolute testament to this success.”

Chris Whitaker said: “In the first quarter of 2017 we were one of the leading estate agents in Plymouth for new instructions, second only to Executive Lets – so for us to be now coming together in this way puts us in an exceptionally strong market position.”

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Source:: Martin & Co franchisees acquire their biggest single competitor