UK: Burts Potato Chips directors sell shares to Empire Food
Hurst and White bought Burts Potato Chips from co-founder Richard Burt in 2000
Burts Potato Chips directors Nick Hurst and Jonty White have sold their stakes in the UK crisp firm.
Hurst and White, who bought the business from co-founder Richard Burt in 2000, sold their shares in the business, to existing shareholder UK-based Empire Food Brokers.
Empire Food Brokers, which distributes gourmet and premium branded foods, will become the majority shareholder in Burts. It increases its stake from 50% to 80%, according to local reports. It is understood Plymouth-based Una Group holds the remaining 20% share.
Hurst will continue to play "an important" non-executive role in the business, Burts said, with his new title as founder director ensuring he remains "integral to Burts going forward".
"After a successful ten years on the management board I have reflected on the changing needs of the business and decided the time is right to step down from the board, whilst continuing to play a large part in the next phase of growth," he said.
“I look forward to what the new role has to bring and help to cement Burts’ position as a leading player within the premium snacks category.”
White, who has sold his shares after a 12-month sabbatical away from the business, will no longer have an involvement in the company. "His departure is on amicable terms and at a time when the company is in a strong position," Burts said.
The changes were welcomed by Burts' chairman and managing director David Nairn: “The move is a win-win for all parties. Jonty and Nick have done a great job driving the business and with Nick continuing to act as a figurehead at Burts, the character and personality of Burts will remain as strong as ever."
- Danone's Q1: four things to learn
- Interview: Sir Kensington's on sale to Unilever
- Column: Why snacking is the new meal
- Nestle Q1 update: four things to learn
- Interview: "Disruptive" snack brand Hippeas
- Tyson shops Sara Lee bakery, Kettle and Van's
- Nestle to cut UK confectionery jobs
- PepsiCo affirms full-year target as Q1 hits mark
- Icelandic to sell Saucy Fish Co. owner Seachill
- Tyson to buy burger-to-entree firm AdvancePierre