By Ian McConnell
AN Inverness-based wholesaler of fresh, locally grown food has become employee -owned, following founder Magnus Swanson’s rejection of an offer from a larger firm in the sector based in England.
Swansons Food Wholesalers, which employs more than 40 people, has now given its staff a stake in the business. Established in 1991 by Mr Swanson, the business began as a single greengrocer shop with two staff.
Three decades on, it has grown into an extensive wholesale business with depots in Inverness, Nairn and Elgin. It supplies fresh produce to independent hotels, restaurants and shops across the Highlands. The business also has contracts to supply care homes, schools, nurseries and colleges in the area.
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Swansons Food Wholesalers has been supplying schools in the Moray Council area for 18 years. It has been serving schools in the Highland Council area for a decade.
While Mr Swanson concluded the offer received from the larger wholesaler at the start of 2020 was not right for the business, this prompted him to consider his ultimate exit from the firm.
He said: “One of the most obvious options is a trade sale. However, I was concerned that selling to a remote buyer might see one of the branches closed, staff laid off, or clients resigned.
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“We have a loyal and long-serving team at Swansons, and I wanted to ensure their jobs were secure. It was at this point that I began to consider employee ownership. I had seen some articles in the media and also knew that a couple of our clients were employee-owned. I thought that employee ownership could be a good fit with our goals and values and would allow me to gradually step back from the business over a number of years.”
He received advice from taxpayer-backed Co-operative Development Scotland, which supports company growth through employee ownership. An employee ownership trust was formed and holds 100 per cent of the shares on behalf of staff.
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