Bussiness
Browns Food Group invests in AK Stoddart
Browns Food Group has made a multi-million pound investment in AK Stoddart, acquiring shares from existing shareholders Colin Wright and Ton Christiaanse, creating Scotland’s largest privately-owned meat business.
The combined company’s domestic and global footprint should now accelerate processing capacity and export capabilities, positioning the new entity as the largest Scottish-owned meat business, turning over £300m, with plans to reach £500m through a new investment programme.
More than 2,000 jobs are supported in Scotland alone, with the Scottish agricultural industry receiving an annual investment exceeding £100m.
Incorporated in 1959, Stoddart’s employs 220 staff and currently processes 35,000 cattle per annum through its abattoir in Ayr and processing facilities in Broxburn.
The two remaining shareholders of Stoddart’s, managing director Grant Moir and finance director Julie Fancourt, will continue to manage the day-to-day operations.
Wayne Godfrey, chief executive of Browns Food Group, commented: “This investment expands our footprint in the red meat sector and will create further opportunities for growth.
“Stoddart’s has demonstrated a strong track record of success and innovation, and we look forward to partnering with Grant and Julie to drive the business forward and achieve new milestones together.”
Moir said: “We have known Wayne and the Browns team for many years, so after meeting with the Browns family, we feel confident that this is the right decision for the business.
“Being part of a larger organisation will provide greater stability and growth opportunities for the industry as a whole.“
Sarah Miller, chief executive of Quality Meat Scotland, added: “This alliance aligns with both businesses’ ambitions to grow opportunities for pork and beef supply into retail, export, and wholesale markets.
“This collaboration and partnership constitute important investment into the skills, production, and market growth of two of our most important domestic meats – beef and pork.“
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