Fast-growing Hunters has acquired Country Properties, adding another 23 franchised branches to its network. The price has not been disclosed.

Sales and lettings agents Country Properties was founded in 1974 in Hitchin, Hertfordshire, subsequently becoming a regional franchise operation under managing director Ian Wilson.

It was the first estate agency network to be recognised by the British Franchise Association in 1984, with offices in Hertfordshire, Bedfordshire and Cambridgeshire.

Glynis Frew, managing director of Hunters, said: “We are delighted to add such a reputable and well-established group of branches to the Hunters network.

“The two companies share the same set of values and are united in our commitment to the franchise model that we feel produces higher levels of customer service and return.

“The acquisition allows Hunters to expand our presence and reach into new areas and to welcome a group of industry accredited branches with professional and knowledgeable franchise partners to our network.

“The majority of the Country Properties branches are in the top three for market share for sales and several hold the top spot.”

Wilson said: “We echo the strong sentiments and driving forces behind Hunters and are pleased to be part of such a dynamic and expanding network. There is great synergy between the two businesses; the move will add value to our customers, help our franchise partners to grow revenue and potentially create further opportunities for growth in the area.”

The 23 Country Properties operations will continue to be managed by Wilson and will not rebrand immediately, although a spokesperson said it will have the option to do so in future.

The acquisition brings the number of Hunters branches to 157.

Hunters is set to launch on the AIM stock market this summer, with plans to grow to 500 branches within five years.

Ian Wilson and Glynis Frew are pictured