Birketts advises Suffolk-based mail order catalogue business, Owl Barn Limited, on its transition to Employee Ownership
12 July 2022
Birketts, has advised Suffolk based Owl Barn Limited, a gift mail order catalogue business, in respect of its sale to an employee ownership trust (EOT). The sale, which completed in April, saw 100% of the company’s share capital sold into an EOT that will benefit the company’s current and future employees.
Established in 1995 by Chris and Elaine Astridge, Owl Barn specialises in selling a wide range of gifts across the UK including books, clothing, food & drink, games and homeware via its mail order catalogue and website service.
The owners made the decision to sell 100% of the company to an EOT as part of their strategic succession plans. On the sale, Christopher Astridge commented: “It is truly wonderful to be able to achieve our succession plans via a model which encourages engagement and benefits the very people who have helped us to make the business a success.”
The Birketts team was led by Lisa Hayward (Partner, Head of Employee Incentives) and Heidi Bond (Corporate) and was supported by a number of colleagues including Matthew Adamson (Commercial), Abigail Hubert (Employment) and Elliot Tayler (Corporate).
Lisa Hayward, Partner and Head of Employee Incentives, concluded: “It was a genuine pleasure to work with the Owl Barn team on this project. I have no doubt that employee ownership fits their ethos fully and that the business will continue to thrive as an employee owned entity.”