Browns Food Group has announced a substantial multi-million pound investment in AK Stoddart Limited at Ayr, creating Scotland’s largest privately owned meat business.
The combined company’s market position will accelerate processing capacity and export capabilities and will see turnover reach £300 million, with plans to reach £500 million through a committed investment programme.
Plans to reach £500 million turnover
AK Stoddart’s two remaining shareholders – managing director Grant Moir, and finance director Julie Fancourt – will continue to manage the day-to-day operations, who say it will be “business as usual”.
Over the coming weeks and months, both companies will be looking at ways to develop and grow together, maintaining the high standards upon which our company’s reputation and brand are built.
‘Business as usual’ says AK Stoddart shareholders
In a statement, Grant Moir said: “The key message here is that nothing changes. We have known the Browns team for many years and feel confident that this is the right decision for our business providing greater stability and growth opportunities.”
Julie Fancourt added: “It was important for us to find a buyer who shared our values and vision whilst being committed to supporting the Scottish farming and agricultural community. We are excited for the future.”
