Seeds supplier Sutton Seeds has announced a management buyout aided by former owner Limagrain and Torbay Council.
The Devon-based firm said the deal ensures continued jobs and growth, as well as providing a springboard for new business.
It was led by commercial director David Robinson, now appointed managing director, and operations director Rufus Roberts, who said that it heralds a “new era” for Suttons.
French grower co-operative Limagrain is no longer a direct shareholder but will remain an important trading partner in Suttons, which will continue to operate from its facilities in Paignton, Devon.
Bernard Bejar, recent MD of Suttons who was instrumental in the transition towards the buy-out, will return to Limagrain in France.
“Suttons have plans to launch innovative and new products, for both our faithful as well as new and budding customers, as we continue to focus on both direct to consumer and retail markets,” said David Robinson.
Rufus Roberts said he is “looking forward to consolidating our base business and adding new opportunities within this new dynamic as, together, we seek to build a solid platform with long term focus. This can only be good news for our loyal customers, suppliers and staff.”
Mark Greaves, partner at accountancy firm Francis Clark, said: “This is a critical next step in the evolution of Suttons, returning it to independent, local ownership. The management team is excited by the opportunities and we have been delighted to play a key part in the deal.”
