Parsons Bakery cooks up move to employee ownership

A bakery company which claims its ovens have never cooled down since launching 100 years ago has become employee-owned.

Bristol-based Parsons Bakery, founded in 1926 and which it says has been open every day apart from December 25th ever since, has created an Employee Ownership Trust (EOT). It means the company which makes a range of products from cakes to bread and pastries will now be owned by its 400 plus staff.

Founded in North Somerset, the family-run business now operates around 50 shops in 10 different counties across the south west. It has stores in Gloucestershire, Wiltshire, Somerset, Oxfordshire, Worcestershire, Berkshire, Bath, Bristol and in Wales. It has a turnover of nearly £15 million.

In the last few years, majority share holders Nick and Nicola Parsons have stepped back from the business. But they hope the EOT will ensure the bakery remains independent and rooted in the communities it has served for 99 years.

"For generations, our family has been at the heart of this business, but we've always known that our employees are what truly make it thrive," said Nick Parsons. "Now, as we take a step back, we do so knowing Parsons is in the best possible hands - those of the people who bake, serve and keep it running every day. This isn’t just about ownership – it’s about securing the future of Parsons Bakery for the people who make it special.”

Lee Insull-Griffith, Parsons retail director, said: "Now, everyone will get a slice of the pie, pardon the pun. There's a new energy because for hundreds of years [employees] have represented the Parsons brand but today we are the Parsons brand. The trust will make sure that everything we do is in the interest of the employees and ultimately the results we achieve as a business are shared amongst those employees."

Find out more about the growth in popularity of EOTs

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