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TOMRODS BECOMES AN EMPLOYEE OWNERSHIP TRUST (EOT)

10th December 2021

 

To all our Customers, Suppliers and Friends                                               

We are delighted to inform you that on 7th December 2021 Tomrods Limited was transferred into an Employee Ownership Trust (EOT) enabling the continuation of the registered business established in 1973.

 

Why has this action been taken?

Over the last 3 years Tomrods owners have considered all available options open to them to preserve the company for the long term. There would have been many changes if Tomrods had been sold to a larger company or been bought by a venture capitalist and over time there would have been a real risk that Tomrods would lose its identity as a successful family-owned business providing excellent service to all its customers. By creating this EOT the owners are passing 90% ownership to their employees so that they can share in the success that they help to create.

 

What difference will this make to the day to day running of Tomrods?

There will be little or no change in the way the business is run, the directors and managers will remain the same, the main difference will be that the trustees will be watching from a distance to make sure that the interests of the employees are safeguarded.

 

What will happen in the future?

Tomrods will continue to invest in new wagons, new machinery, new technology and seek to minimise its carbon footprint whilst continuing to improve its health & safety and quality standards. There are attributes that Tomrods will continue to uphold including its honesty and integrity as well as maintaining a solid financial base which will enable it to continue to perform successfully. 

Tomrods board of directors are delighted that John and Julie have chosen this option. We are excited about the opportunities it provides and continuing to focus on the growth and development of Tomrods by harnessing ideas from employees to further improve productivity and sustainability. We welcome the fact that John and Julie will remain in the business offering advice and guidance.

If you have any questions please contact a Director or your contact at Tomrods.

Wishing you a safe Christmas and a healthy and prosperous New Year.

 

 

Andrew Shakespeare              Melinda Bruce            Neil Latcham               Jacek Przybyl