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.
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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.”
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By GlobalDataWhite, 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.”
