The fourth-largest producer of Cornish Pasties and largest domestically owned producer in Cornwall has launched a brand new authorized construction, which sees its 150+ workers taking possession of the Group.
Commenting on the transfer, Mark Norton, managing director of Prima Bakeries Group mentioned the transition has been a part of a long-term succession plan.
“We now have at all times been pleased with being a family-owned and run Cornish enterprise and this feels a good way of extending the ‘household’ to incorporate all our employees,” he added.
“The transfer reinforces our dedication to our workers and clients and permits our employees to share within the firm’s success and actively take part in its future course.
With gross sales rising by 20% year-on-year in 2023, the Group’s 2024 turnover is about to achieve £14m. The enterprise will even be increasing with the creation of 30 new jobs over the following 5 years and investing in new tools and manufacturing capabilities.
Day-to-day administration of the group will proceed beneath the present administrators and administration workforce. 4 trustees will handle the brand new Worker Possession Belief on behalf of all workers and can oversee employees bonuses arising from future earnings.
Norton concluded: “I’m extremely pleased with what we’ve constructed at each Prima Bakeries and Cornish Premier Pasties and sit up for working alongside our devoted workforce to attempt for continued progress. I do know the group will proceed to flourish and I’m excited for the following chapter!”
In different information, the winners for 2024’s Meals Manufacture Excellence Awards have been introduced, with Arla performing a formidable hat trick.
