Two agents who run a EweMove franchise have acquired a local rival business and with it a portfolio of 100 managed properties.

The move comes three years after Anita Light and Paul Gammage, branch directors of EweMove Yeovil and Sherborne, first launched their franchise.

They have purchased MPP Lettings and Management, an independent agency that has been operating in the Yeovil area for over a decade, for an undisclosed sum.

As part of the deal, they have acquired MPP’s full lettings portfolio and will rebrand its premises to EweMove.

Gammage said: “We are absolutely delighted to have completed on this purchase.

“Having opened the doors to our EweMove business in 2015, we’ve enjoyed huge successes, with our client base and property portfolios continuing to grow month on month.

“Whilst we’ve been committed to growing organically over the past three years, making an acquisition was the natural next step for us – and with MPP Lettings and Management an agency with such a renowned reputation in the region, it was the perfect fit.

Nick Neill, managing director of EweMove, said: “Achieving this after only launching three years ago is absolute testament to the hard work and determination of Anita and Paul in growing such a successful business.

“The whole EweMove model is designed to offer the highest levels of support to our franchisees to enable each and every one to grow as quickly, and as expansively, as they want to, and we very much look forward to celebrating many more successes across our network over the months ahead.”

Last week, EweMove parent company the Property Franchise Group claimed that losses at the online agent were “substantially reversed” in the second half of its financial year.