Scotland’s new meat giant targets £500 million turnover
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Pictured (L-R): Browns Food Group chief executive Wayne Godfrey, AK Stoddart managing director Grant Moir, and Julie Fancourt, finance director of AK Stoddart (Image credit: Sandy Young)
Dumfriesshire-based Browns Food Group has invested a multi-million pound sum in AK Stoddart, creating Scotland’s largest privately-owned meat business with a combined turnover of £300 million.
This move will boost processing capacity and exports, with the new entity aiming for a £500m turnover. Browns has signalled its commitment to supporting Scottish agriculture and investing in the company’s growth.
Stoddart’s existing management and two remaining shareholders, managing director Grant Moir and finance director Julie Fancourt, will continue to run the day-to-day operations.
Wayne Godfrey, chief executive of Browns Food Group, commented: “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.”
Ms Fancourt said: “It was important for us to find a buyer who shared our values and vision whilst being committed to supporting the Scottish farming and agricultural community. We are excited for the future!”
Mr Moir added: “The key message here is that nothing changes. We have known the Browns team for many years and feel confident that this is the right decision for our business providing greater stability and growth opportunities.”
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