Parsons Bakery: Popular Bristol bakery celebrates 99th anniversary by becoming employee-led

BristolWorld

The South West beloved independent bakery is embarking on a historic new chapter for 99th anniversary as it transitions to an Employee Ownership Trust (EOT) - ensuring its over 400 employees will now effectively own the business.  The brand was founded in 1926 in Clevedon before shortly opening a second shop in Nailsea, and continuing to grow into a thriving business with locations across the region.  The move to an EOT means that the trust will hold 100% of the company’s shares, which will act as a legal entity overseeing the business on behalf of its employees.  All non-allocated profits will be also be distributed back to staff, ensuring that those who contribute to the bakery’s success directly benefit from it. Employees will also have a say in the company’s future direction, with trustees appointed to represent their interests.

Transcript

00:00I'm Lee Insel Griffiths, I am the Retail Director for Parsons Bakery.

00:04We are entering our 100th year, we were family run up until April this year so

00:10we've been run by the Parsons family for 99 years and in April we became an

00:15employee-owned business.

00:19What led to the decision to be an employee-led business?

00:25So our majority shareholders Nick and Nicola were looking for a way to exit the

00:30business but they didn't want to sell it just to anyone so as you can

00:35appreciate 99 years there's a lot of legacy behind them you know it is a

00:39family legacy so they've entrusted it with the employees so that's why we went

00:43in that direction so for the employees you know there is that air of excitement

00:51there's definitely a different kind of energy happening out in our shops as you

00:54can hear in the background behind me I think for our team members you know

00:59we've always worked and represented the Parsons brand but now we are the Parsons

01:03brand.

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