Outdoor furniture supplier Bramblecrest has become an employee-owned business.
The Stroud, Gloucestershire firm, which employs almost 60 people, says the majority of shares in the company are now held by a newly-established employee ownership trust.
Hugo Douglas-Pennant and Martyn Bell, Bramblecrest founders have retained a minority stake in the business and will remain ‘active directors’ during the transition.
‘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,’ they say.
They founded the company in 2000, with sales up 21% to £51.4m in the year to 30 November 2022 generating a pre-tax profit of £9.28m, up from £7.4m.
While a dividend was not paid for 2021/2022, £2.58m was in 2020/2021.
The company has more than 300 stockists.
