Stoddart’s to be sold to private investors
Stoddart’s, the Scottish beef processing company, is to be sold in a staged sale to a consortium of private investors.
The new owners are experienced food industry professionals and will be supported by Close Brothers. The investors are Ton Christiaanse, former CEO of Vion UK; Grant Moir, formerly managing director of the J J Tranfield meat business; Colin Wright, previously chairman of the J J Tranfield Group; and Jeremy Carr of Energize Capital.
Currently the focus will remain “business as usual”. The executive board includes Neil Stoddart and current Stoddart executives Lucy Husband and Martin Dundas, together with non-executive chairman Ton Christiaanse. Managing director Grant Moir will run the business on a day-to-day basis.
Moir said: “It is exciting for us to be investing in a strong Scottish company that produces such an exceptional quality product. The business benefits from excellent relationships with both its customer base and the Scottish farming community and we look forward to working closely with both to further develop the Stoddart brand over the coming years.”
Neil Stoddart will continue to be involved with the business over the next few years on an advisory basis and will retain a significant investment in the company.
He said: “We have had a long-standing relationship with the new management team who share our values with regard to our people, customers and suppliers. The acquisition will provide for business continuity and will enable A K Stoddart Ltd, a recognised market leader, to continue to grow.”
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