Wed, 02 Feb 2011 | MBO/MBI
Keith Herman and Peter Pantelides have taken the reigns of Freshrewards, after purchasing it in an MBO from its parent The Fresh Group.
The new owners - and co-founders - of Freshrewards aim to rebrand the rewards business as INSPIRE. The business focuses on sales promotion and loyalty campaigns for blue-chip clients in the UK and Europe.
Freshrewards, which trades as freshtravel and incorporates The Travel Gift Card Company, has a projected turnover figure exceeding £3m for the year 2011/12.
The chairman and chief executive of video and communications agency Fresh Group, Nick Porter and Julie Besbrode, sold the division to the management team as they had little available time to spend on the business due to quick expansion in other areas.
Mr Pantelides commented: “We have continued to grow and expand the business profitably with some new and exciting products, and both Nick and Julie felt they could not commit more time with their present workload. The decision and timing was right for everyone.”
The newly separate entities are to remain at the same premises in Cheshire and collaborate on some projects.
The Fresh Group has featured in the news elsewhere due to its strong sales figures. The six-year-old company is on track to exceed its goal of £10 million in revenues this year. It reported a provisional figure of £8.3 million for 2010. Recent new clients include the household names Barclays, Co-op, Brother and Which?
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