Food and Drink

Tugo Food becomes employee-owned

The transition was supported by legal, financial and strategic advisers

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Food and product development specialist Tugo Food has announced that it has transitioned to an Employee Ownership Trust (EOT), giving its staff a financial stake and a role in the company’s governance.

The move transfers ownership of the 16-year-old business to its employees, a change that chief executive Lee Personius said would help “secure its independence and support sustainable growth”.

Tugo’s employee-owners will continue to work across menu innovation, product development, marketing and logistics, providing tailored solutions for clients in the hospitality, leisure and education sectors.

The firm, which holds Investors in People Gold accreditation, has been recognised as one of the Sunday Times Best Places to Work and is B Corp certified. The EOT structure is intended to strengthen its position as a values-driven organisation.

Personius added that he hoped the move would encourage others in the sector to explore employee ownership models.

Personius said.“This is good news for the industry as the transition to EOT strengthens our independence, protects our culture and lays the foundation for sustainable growth. Our team has always been central to Tugo’s success, and this move ensures they share in the value they help create.

“We always strive to champion change and do things differently at Tugo. My vision is that this move inspires more businesses in foodservice to consider this model to benefit those at the very heart of their businesses.”

HR director Lynn Ford said the shift would promote collaboration and engagement across the company. “Employee ownership will increase engagement, which leads to higher productivity, lower staff turnover and greater collaboration and innovation – great for both the industry and the business,” she added.

The transition was supported by legal, financial and strategic advisers.

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