Employees take control
SENTRY Farms, the new company to be formed by the proposed management buyout of Sentry Farming, will be 100% employee-owned.
Over 40 shareholders will be managers and office staff, says Andrew Mason, one of four directors behind the new company. They will be supported by external private loan capital and bank facilities.
Parent company, Sentry Farming Group, is changing its name to Willisham Group. After selling off its non-contracting businesses, including its Willisham headquarters, guided at £1.8m, and a farm tenancy at Burnham Market in north Norfolk, it will become a listed "shell" company.
Shareholder approval of the deal will be sought at an extraordinary general meeting later this month. *