Harvey and Family Buy Magic Millions

The search for a new managing director is under way.

Prominent Australian businessman and Thoroughbred breeder Gerry Harvey and his family have purchased the Australia-based Magic Millions sales company, it was announced Jan. 28.

"At a meeting held last night my family and I agreed to acquire the interests of John Singleton and Rob Ferguson, to own 100% of Magic Millions, for an undisclosed figure," Harvey said. "As a result of this development, Dr. Stephen Silk has resigned from his position as managing director of Magic Millions effective immediately."

"David Chester will act as interim managing director for the company, until such time as a new managing director is appointed. The search for a new managing director is under way."

Harvey added that it would be business as usual for the auction firm.

"We have a great team at Magic Millions and we are focussed on our upcoming yearling sales in Perth, Tasmania, and Adelaide as well as the rescheduled QTIS 600 Yearling Sale in April,” he said.

The Magic Millions Perth yearling sale will start Feb. 9.