Mail order retail business Owl Barn has become employee-owned in a move supported by our Corporate Finance team.
Based in Stonham Aspal, Suffolk, Owl Barn specialises in supplying gifts and homewares to customers across the UK. The business was established in 1995 by founders Chris and Elaine Astridge, and its catalogues and website offer a comprehensive range of goods, including food and drink, clothing, games and furnishings.
The decision to enter into employee ownership was reached following a strategic review of the succession options available to the vendors of the business, which was delivered by our Corporate Finance team and led by Associate Director Alex Hunton and Director Matt Field.
Owl Barn’s move to employee ownership ensures it will maintain its family-oriented culture and enables its employees to benefit from the future success of the company.
Chris Astridge, Founder of Owl Barn, said: “I would like to express our great satisfaction and gratitude for the way FRP Corporate Finance handled this process from the beginning, and for the invaluable support throughout. We’re proud to have grown Owl Barn into a thriving business over the last 27 years, and it was important to us to preserve the culture of the business for our employees and customers.”
Alex Hunton, Associate Director at FRP Corporate Finance, added: “From our early conversations with Chris and Elaine, it was clear they were committed to maintaining Owl Barn’s legacy and empowering its employees. We worked closely with Chris and Elaine to explore options, and a transition to Employee Ownership was the ideal succession solution for not only the vendors themselves, but the other management of the business and other stakeholders of the company.”
Employee ownership trust
We worked closely with the team to explore options, and a transition to an Employee Ownership Trust was the ideal succession solution.Alex Hunton Corporate Finance