Employee owned success story welcomes new phase of independence

Renowned seafood business Loch Fyne Oysters (LFO) and employee ownership experts Baxi Partnership Ltd (BPL) celebrate taking the Argyll based business - which farms shellfish, smokes salmon and runs the original Loch Fyne Oyster Bar at the head of Loch Fyne - to the next phase of commercial success. Eight years on from BPL providing the funding and support that first propelled LFO into employee ownership, LFO has repaid that initial investment and will now continue independently as a prosperous employee owned company. Bruce Davidson, Managing Director of LFO, said: “Our business could not have become employee owned without Baxi Partnership's assistance, and we are now ready to be independent and to take the business to further growth whilst remaining employee owned." In 2003, BPL provided the funding, advice and support to ensure LFO’s successful transition into an employee owned business model – a move which has since seen the company continue to grow and flourish. John Alexander, Investment Director at BPL, said: “It is thanks to the hard work and commitment of every one of Loch Fyne Oysters’ employees that the company is able to become wholly independent and continue to operate in the local area. Baxi Partnership is proud to have supported Loch Fyne Oysters’ move into employee ownership, and is confident the company will go from strength to strength.” LFO – which is located at the head of Loch Fyne – is looking to increase its range of quality Scottish shellfish, and to continue to expand its export business into new territories. Currently the export business, which is growing 20 percent year on year, operates in markets from France and Italy to Hong Kong, and is looking to increase its presence across Asia. Ends Notes to editors: Loch Fyne Oysters Ltd – background Loch Fyne started with one inspirational idea – to grow oysters in the clear, fertile waters of Loch Fyne. It has since developed into a cluster of businesses whose success is built on an honest approach to superb quality food. All Loch Fyne businesses abide by the guiding environmental principles established by founders John Noble and Andy Lane at the outset. The companies work together to ensure that only the very best produce – farmed and fished to the highest quality and environmental standards – reaches the kitchens and plates of their customers. Along with the smokehouse and shellfish farms at the base of Loch Fyne are the Loch Fyne Farm shop and the Oyster Bar, the genesis behind the Loch Fyne Restaurant group, now owned by Greene King with whom Loch Fyne Oysters have both supply and licence agreements in place. Loch Fyne Oysters work closely with the Marine Conservation Society and is one of its Oceans 25 Ambassadors. For more information on Loch Fyne Oysters, visit www.lochfyne.com Baxi Partnership Baxi Partnership strives to be a beacon for mutual and employee ownership. We have a unique ten year track record in offering funding and specialist support to help grow strong, successful employee-led organisations. Our first-hand experience in supporting organisations in both the public and private sectors has shown time and again that giving employees a significant stake in the enterprise they work for, and real participation in how that enterprise is run, produces superior performance and productivity. Our employees have worked with and for the best performing employee owned organisations in the UK. For more information, please go to www.baxipartnership.co.uk This information and further details from Jane Maher at Denvir T: 01786 448 160 / 07789 225 171 E: jane@denvirmarketing.com