Salford-based manufacturer Glendale Foods has undergone a partial shareholder buyout, leaving full control to its management company.
Managing director Paul Burkitt and operations director Mark Jones have assumed full control of Glendale after the purchase of the remaining shares in the company from founding shareholders, chairman John Mortimer, Gill Mortimer and Pam Mortimer, with a view to continue the business's growth.
(L-R: Mark Jones, Gill Mortimer, John Mortimer, Paul Burkitt)
Last year, turnover of the meat, vegetables and flour wholesaler and manufacturer was at £20m, marking its recovery from the operational difficulties it faced after a major fire in 2012. It employs over 200 staff.
Commenting on the buyout, Burkitt said: "This is an exciting period for Glendale and this transaction represents the next phase in our development. Glendale's success is based on a platform of product innovation, customer relationships and service. We look forward to building on the existing customer base to further drive growth and capabilities."
John Mortimer, exiting chairman, commented: "The company is now in a great position with a state of the art production facility and an enviable customer base. I am confident that it will continue to thrive under the stewardship of [Burkitt and Jones] and wish them every success."