Outdoor furniture supplier Bramblecrest has announced it has become an employee-owned business.
The Gloucestershire firm, which has a workforce of almost 60 staff, said the majority of shares in the company were now held by a newly established employee ownership trust. The Stroud-based business said the sale, financial details of which were not disclosed, would allow it to remain “independent, resilient, and sustainably financed”.
Its founders, Hugo Douglas-Pennant and Martyn Bell, will keep a minority stake in the business and said they were planning to remain “active directors” during the transition. The pair added: “We are working to ensure that the growth and success we have benefited from to date, is the foundation for further expansion in the years to come. It’s therefore business as usual as we focus on continuing to do what we do well.”
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They added they hoped the move would create “fresh opportunities and a new energy” at the firm they established in 2000. In its most recent set of financial results, filed on Companies House in March, Bramblecrest reported a pre-tax profit of £9.6m, as turnover rose by a fifth to £51.4m during the year to November 2022, amid “continued high demand for garden furniture”.
The company, which has its headquarters at Aston Down Business Park, sells its range of products through stockists in the UK and Europe, as well as online.
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