Estate agency and property group Connells has today completed its acquisition of Countrywide.

The takeover will see Countrywide continue to use its existing branding and maintaining its branch network.

Connells says it will keep Countrywide’s surveying and asset management businesses as separate entities in order to “provide choice and competition in these sectors”.                                                                                            It says the deal will bring “financial stability for Countrywide, freeing it from external debt, and bringing years of uncertainty to a close”.

The new group will have more than 1,200 high street branches.

Connells Group chief executive David Livesey will lead the new group, while Countrywide chief executive Paul Creffield will be moving to a part-time role during the transition period, ahead of his planned retirement.

Livesey says: “Our companies have a long, shared history, competing healthily on the high street and in the industry, and sharing many of the same attributes – a clear strategy to be market leader, to move the property industry forward and to keep our customers and clients at the heart of our activities. 

“We look forward to welcoming all our new colleagues into Connells Group, working together on our exciting future and turning Countrywide around for our shared success.”