The kidnapping of a North Yorkshire estate owner from his home in Ecuador was financially motivated, police have revealed.

Authorities in Ecuador said they were investigating the kidnapping of Colin Armstrong, the former UK honorary consul in Guayaquil and owner of the Tupgill Park Estate in Coverham near Leyburn in the Yorkshire Dales.

As The Press reported, the 78-year-old, who also owns the Forbidden Corner visitor attraction in the Dales, was snatched from his ranch in Los Ríos in the early hours of Saturday (December 16).

On Wednesday police in Ecuador confirmed that Mr Armstrong had been rescued and was “safe and healthy”.

Armed men entered Mr Armstrong’s home on Saturday and kidnapped him along with a woman, identified as his partner. They took them in the businessman’s own car, which was later abandoned and found near the area.

Gazette & Herald: Colin Armstrong with police officers in Ecuador after being rescuedColin Armstrong with police officers in Ecuador after being rescued (Image: National Police of Ecuador)

The commander of the National Police, General Cesar Zapata, said on Wednesday that Mr Armstrong was freed on Tuesday night by police agents in the coastal province of Manabi, about 234 kilometres south west of Quito.

Eight Ecuadorians and one foreigner were arrested.

Mr Zapata said that Mr Armstrong’s partner was released hours after the kidnapping and abandoned in an area not identified by the police with alleged explosive devices attached to her body that turned out to be fake.

He said the kidnapping was believed to be financially motivated. 

The kidnappers had requested a large amount as ransom, according to the police.

Authorities have not said how Mr Armstrong was rescued as the case is still being investigated.

After he was rescued a spokesperson for the Tupgill Park Estate said Mr Armstrong’s family and friends, along with staff at the estate, were “delighted” with the news.

“We can confirm that Mr Colin Armstrong has successfully been released and is currently with the police having interviews and then will be returning to his family in Ecuador,” they said.

“All of the UK family, staff and friends are delighted with the outcome and look forward to a happier Christmas.”

Chris Campbell, the UK's ambassador in Ecuador, said: "We are delighted that Colin Armstrong OBE, our former honorary consul in Guayaquil, has been safely released. Our thanks to the National Police of Ecuador for all their efforts to achieve Colin's release. Thank you."

Mr Armstrong runs an agricultural supplies company in Ecuador.

His family has lived on the 500-acre estate since Victorian times.

Mr Armstrong was Honorary Consul to Guayaquil until 2016. An Honorary Consul is a voluntary position that is appointed based on their extensive knowledge of a region and an established network that enables them to support British interests and to provide support to British Nationals who find themselves in difficulty.

Ecuador has been engulfed in recent years in a surge of violence tied to drug trafficking, including murders and kidnappings.