Kingsland Drinks Group, including Kingsland Drinks and newly established Ten Locks, has become partially employee owned.
After a period of “careful consideration and planning”, the company's owners agreed to restructure the ownership model after reviewing all the potential options. They concluded the best outcome was to sell a majority of the shareholding into an employee ownership trust (EOT) structure.
According to the organisation, the shareholders will remain active in the business as executive members of the board and will retain an equity interest while moving the majority (51%) of the company into the EOT, giving employees indirect ownership status. The remaining 49% will continue to be held by the owners.
There will be a board of trustees, consisting of one external independent member, two founders and two employees, who will look after the best interests of the company co-owners. The business will continue to function as normal, with the board of directors and leadership team being accountable to the board of trustees.
Director and shareholder Andy Sagar explained that the four shareholders have put a great deal of thought into the succession of the organisation as it has a “strong” legacy of partnership and a family ethic.
“We have always put employees at the heart of our business and the move to EOT allows our colleagues to feel even more connected to the company, and take pride in building for the future, having a real stake in the success of the business,” he said.
Ian Hiscock, new chair of the trust board, added that he is “thrilled” to be joining the team at Kingsland Drinks on its employee ownership journey and is passionate about the benefits an EOT can bring to a company and the employees who make it a success, as he has spent his whole career working in and around employee-owned businesses.
