Skip to content
Search
AI Powered
Latest Stories

S&W moves to Employee Ownership Trust model

S&W moves to Employee Ownership Trust model
Pictured is Norman Savage, Director S&W, Alan Dorman, Trading Director, S&W, Michael Skelton, CEO, S&W and Anthony McVeigh, Deputy CEO and CFO, S&W

S&W Wholesale has announced its transition to a new business structure, moving to an Employee Ownership Trust (EOT) model of ownership from January 2023.

The new structure will see control of the 106-year-old business move from its current private ownership to a Trust, which will manage and control the shares indirectly on behalf of employees.


The Newry, Northern Ireland-based wholesaler said this will provide an innovative, forward thinking succession plan for the current owners. The new structure will see no visible change in the business, with day to day control remaining with the current Leadership Team.

“S&W has played a valued role in the retail community for more than one hundred years. We have been working on a succession plan for some time to secure the future of the business, while allowing for growth. We didn’t want to become another name swallowed up by the bigger players or potentially bought and closed by an investor,” Norman Savage, S&W director, said.

“We have a loyalty to our people, customers, and supply partners. We also have ambitious growth plans, with a new purpose-built site currently in the planning system. We want this ambition to carry through the next generation of the business.”

Michael Skelton, S&W chief executive, added: “We took considerable advice and guidance before making the decision, so we are satisfied that the EOT model gives us everything that we need for the future sustainability of the business.

“Our shareholding will effectively be bought over time by the Trust, with the majority of the business shares held in the Trust collectively on behalf of the employees. This means that when the company does well, the employees, as beneficiaries, will do well. The nature of the structure allows for incentives such as tax-free bonuses and other inducements as the business model continues to mature.”

The EOT legal structure, widely used in other parts of the UK, has been relatively unexplored in Northern Ireland.

“This is a very bold and exciting move for us as pioneers of EOT at this scale in Northern Ireland. We know there will be learnings over time but the most important thing for us is that our team are going home this Christmas knowing that not only have they job security, and certainty for the long term; but they are working for an organisation that genuinely wants them to benefit from the business,” Skelton said.

“Our suppliers are safe in the knowledge that S&W will be their partners for the long term with its ambitious growth plans and investment back into the business through the Trust. Our customers know that we will continue to deliver exceptional service, as every member of our team is now a beneficial stakeholder in the business. We will remain on the Board but as exiting shareholders we know that the hundred-year-old legacy of the S&W journey will live on for many years to come.”

S&W currently employs more than 320 people and operates as one of the largest independent wholesalers on the island of Ireland. Financial details of the transaction were not disclosed.

More for you

Glenshire Group appoints Dan Arrandale as property director

Glenshire Group appoints Dan Arrandale as property director

Scottish business conglomerate Glenshire Group has hired Daniel Arrandale as its new Property Director.

Starting in the newly created role last week, Arrandale brings a wealth of industry experience to the business, including his most recent position as Acquisitions Manager for Asda and his previous position as Development Manager at EG Group.

Keep ReadingShow less
Carlsberg Zero
Competition watchdog begins Carlsberg, Britvic merger probe
Competition watchdog begins Carlsberg, Britvic merger probe

Carlsberg shifts marketing focus as drinkers choose cheaper beer

Brewer Carlsberg is shifting some of its marketing focus to cheaper brands, it said on Thursday (31), as consumers in major markets bought cheaper beer and in reduced quantities.

The maker of Kronenbourg 1664, Tuborg and Somersby said beer sales volumes fell by 1.3 per cent in the third quarter, noting declines in China, France and the United Kingdom. Premium sales fell 0.5 per cent in the quarter."In Western Europe, there's no doubt that the average consumer is holding back," CEO Jacob Aarup-Andersen told Reuters.

Keep ReadingShow less
sustainability, zero waste store, refil lzone
Photo: iStock
Photo: iStock

Consumers value ethics though 'sustainability needs to be competitively priced'

Consumers now want a greater commitment from retailers in cutting food waste, refilling stations, sustainable packaging, and partnering with social purpose organisations, states a recent research, which also highlights that a good majority (69 per cent) of younger consumers are more likely to shop with what they see as socially responsible retailers though price sensitivity still plays a crucial role.

According to the findings, published in Vypr’s Consumer Horizon Report, reducing food waste is the most important factor for the majority of UK consumers (29 per cent), especially for Gen Z women aged 18-24 (38 per cent). More than a third (37 per cent) of men aged 18-24 said they needed food storage advice. A similar number of women aged 18-24 (33 per cent) want meal kits with the exact amount of ingredients included for them to cut down on food waste.

Keep ReadingShow less
Sugro-Wn-News.png
Sugro UK
Sugro UK

Sugro UK unveils new B2B digital enhancements to empower members, retailers

Sugro UK, the number one buying and marketing buying group*, in partnership with b2b.store, is thrilled to announce a further expansion of its existing E-Loyalty scheme programme, which has proven to be very popular with its members and retailers, by introducing E-Loyalty Extra Compliance and Execution scheme as well as E-Coupons.

The E-Loyalty Extra is aimed to boost compliance and execution at retail store level to drive new product launches, core range compliance, some exciting fixture trials with its supply partners and more! It will be available to all member owned and member affiliated retail stores within the group.

Keep ReadingShow less
Paulig acquires Panesar Foods

iStock image

Paulig acquires Panesar Foods

Expanding its footprint in the World Foods category, Paulig has acquired Panesar Foods, a prominent UK-based producer of sauces and condiments.

Founded in 1992 and headquartered in Tipton, Panesar Foods is a family-owned business with three production facilities, employing 308 staff and achieving a turnover of £59 million in the 2023 fiscal year.

Keep ReadingShow less