Ballylinch Stud has been sold to American businessman John Malone and his wife Leslie. The sale follows a strategic decision by the Mahony family's Killeen Group to exit the bloodstock industry in Ireland.

Locasted in Thomastown, Co Kilkenny, Ballylinch Stud is one of Ireland's leading stallion farms. Its stallion roster includes this year's leading first season sire Lope De Vega, Lawman and Dream Ahead. It was purchased by the Mahony family in 1987 and, following the death of Tim Mahony in 2008, his daughter Jenny Howes has taken a close interest in the stud's affairs.

Yesterday the Mahony family said it was "particularly pleased to have completed the sale of Ballylinch Stud to John and Leslie Malone, given their longstanding commitment to, and international standing in, the bloodstock industry."

John Malone stated: “We are delighted to become involved with Ballylinch and John O’Connor and his staff. We were attracted to Ballylinch by its strong reputation, built over many years. Leslie and I look forward to continuing the development of Ballylinch into a premier European farm.”

In a statement issued on Friday afternoon, the Killeen Group said it believed that the "the timing was right for this sale, given the rapidly improving economic climate, the positive outlook for the bloodstock industry in Europe and Ballylinch’s significant recent successes, all of which have combined to deliver an environment which sees the stud trading strongly."

Ballylinch Stud has been sold as a going concern with all staff retained, including John O’Connor, who will continue in his role as managing director.

More on this story in The Irish Field on Saturday. Online from 9.30pm Friday.