Farmers take back control of their familyowned business

Peterborough brothers buy out minority shareholders

The brothers behind a Peterborough supplier of vegetables have gone back to their roots with a buyout of all the firm’s minority shareholders.

The Burgess family, which can trace the origins of Produce World, in Yaxley, back to the late 19th century, has just announced the buyout of all the minority shareholders in the company.

While family has always held a majority of the shares, they say a significant minority were held by 23 other shareholders who received shares as a result of mergers and acquisition by the group.

Chairman and chief executive of the £100 million turnover business, William Burgess said: “We have been looking for a way to reward our minority shareholders for some time, and we believe the time is right.

“ProduceWorldwasfounded as a family business and going forward that is the way we want it to be.

“Jason, Andrew and I are now fully involved in the dayto-dayrunningofthebusiness and we are currently working on plans to bring the next generation into the company

“We are more confident than ever about the future of Produce World.

“We are a business that grows and packs organic and conventional potatoes and vegetables, with farming at the heart of everything we do.

“The business has gone back to its roots.”

The holding company Produce World Investments is now completely owned by the Burgess family.

Spread across four sites, the business employs about 600 people. It recently completed the sale of its Swinderby site, which will be used to build 120 homes.

From left, William Burgess, Andrew Burgess, Jason Burgess.

Processing the carrots at Produce World’s Yaxley site.