Browns Food Group has announced a “substantial” multi-million-pound investment in meat processor AK Stoddart Limited.
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.
Browns acquired shares from existing shareholders Colin Wright and Ton Christiaanse, positioning the new entity as “the largest Scottish-owned meat business” turning over £300 million, with plans to reach £500 million through a “committed” investment programme.
The alliance between Browns Food Group and Stoddart’s will bring additional resources and strategic opportunities that will “enhance the company’s capabilities” and market position.
The two remaining shareholders of Stoddart’s, Grant Moir, managing director, and Julie Fancourt, finance director, will continue to manage the day-to-day operations, ensuring that the company’s mission and vision are upheld.
Wayne Godfrey, Browns Food Group CEO, said: “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.”
Grant Moir, AK Stoddart managing director, said: “We are thrilled to welcome Browns as a shareholder in the business. We have known Wayne and the Browns team for many years. 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.”
