A K Stoddart plans for business continuity
10th of November 2015
Neil Stoddart has agreed to a staged sale of his company, A.K. Stoddart Ltd, based in Broxburn and Ayr, Scotland to a small consortium of private investors whose aim is to provide continuity and to harness company strengths to exploit opportunities to grow business in existing markets, develop new markets, and access new channels.
Established almost sixty years ago, the business remains a strong independent Scottish company that, working closely with Scottish farmers, will continue to play a key role in the journey of the very best Scotch and Aberdeen Angus beef from farm to fork. The focus is very much on ‘business as usual’ and this is reflected in the composition of the executive board which comprises Neil Stoddart and current Stoddart executives Lucy Husband and Martin Dundas together with non-executive chairman Ton Christiaanse, and managing director Grant Moir.
The new owners are experienced food industry professionals and will be supported by Close Brothers. The investors are Ton Christiaanse, the former CEO of Vion UK, Grant Moir, formerly MD of the J.J. Tranfield meat business, Colin Wright, previously Chairman of the J.J. Tranfield Group, and Jeremy Carr of Energize Capital.
Neil 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 observed: “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 recognized market leader, to continue to grow.”
The business will be run on a day-to-day basis by Grant Moir, who will be supported by the excellent Stoddart management team. Grant commented: “We are delighted to have the opportunity to invest in the Stoddart business. We have known Neil and his team for some time and have always been impressed with their professionalism and strong value set. 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.”