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West
Bromwich based East End Foods, has been named 'Best UK Family
Business, Northern England and the Midlands Region', in the £25m+
turnover category of the Coutts Prize for Family Business 2008/9.
The company will now go on to compete in the £25m+ category at
the national finals to be held in central London on 23rd June 2009.
Formed
in 1972 by the Wouhra brothers, East End Foods is a second
generation family business and is the largest importer of Indian food
products and ingredients to the UK. They clean, pack and process the
goods in the UK and distribute to independent stores and large
retailers such as Waitrose, Tesco and Asda across both the UK and
Europe. Their business also includes two cash and carry stores in Birmingham.
Lucy
Armstrong, Regional Chair of the evaluation committee commented: "East
End Foods is an amazing success story for a family who have built
something from nothing in less than thirty years. This is an
entrepreneurial family that has used all its talents to develop a
strong business with consistent growth and profitability. The judges
were particularly impressed with:
*
the family's success in building something from nothing in less than
thirty years, through organic growth;
*
the relationship the business has formed with customer groups; and
*
the strong sense of family commitment and involvement in the
business, from summer jobs for the next generation to a willingness
for succession to take place now the second generation is in the
boardroom; and
*
the active engagement in the local community and the broader
environment in which they operate such as working with hospitals to
produce healthy Indian meals as part of their commitment to being a
good corporate citizen."
Juliette
Johnson, Senior Family Business Adviser, Coutts & Co added "We're
delighted to provide recognition to this special family business and
showcase their achievements for the benefit of other family
businesses. What really shines through is the strength of the
family's values. These influence how and why things get done and act
as the glue binding the family and business together. These strong
values, coupled with their conservative approach and long term
planning, should give them the best possible chance to weather this
current economic downturn."
With
the current economic downturn, businesses are finding it
increasingly difficult to survive, which therefore increases the
value of recognising these family businesses and their work. The
companies that scored most highly were the ones that were able to
give examples of what they had achieved.
Mark
Evans, Head of Family Business, Coutts & Co, commented: "Success
factors that can help family businesses adapt to the current
economic downturn are at the heart of the fourth Coutts Prize for
Family Business. It will be equally important to take active steps to
manage the family as well as the business to survive the current recession."
Jason
Wouhra, Operations Director and Company Secretary of East End Foods
and second generation member of the Wouhra family said: "We
are extremely pleased to receive the Coutts Prize for Family Business
as recognition for our hard work and family unity. As a second
generation member of the family and board, I am looking forward to
our next stage of growth and future progress. Our strong team, family
values and ongoing strategy will enable us to achieve this despite
the present economic conditions."
The
Coutts Prize for Family Business recognises the best run family
businesses in England and Wales, and is the only regional and
national awards programme in England and Wales celebrating the
overall best performing small, medium-sized and large family
businesses. The Prize, compliments Coutts successful Forum for Family
Business Owners that is held throughout the UK.
The
Coutts Prize recognises firms in three categories (£1m-5m,
£5m-£25m, £25m+) that demonstrate a combination of
high standards of family governance and corporate governance, a
competitive market position, consistent financial growth, and a track
record of charitable giving or involvement in local community.
Entrants must be companies or firms where two or more family members
together have control of over 25% of the voting shares and consider
themselves as a family business.
More
specifically, the independent evaluation committee was looking for
examples of best practice including;
*
the strength of the family's values;
*
the involvement of the family;
*
communication and planning;
*
the separation of 'ownership' and 'management';
*
the use of external, independent advice;
*
the development of a succession planning process;
*
next generation development;
*
conflict management; and
*
philanthropy and charitable involvement.
The
independent evaluation committee is overseen by Roger Pedder, former
Chairman, between 1993 and 2006, of C&J Clark Ltd (Clark Shoes),
one of the UK's largest private family companies. It was established
in 1825 and is in its sixth generation. Clarks is the leading shoe
retailer and brand in the UK and has significant positions in North
American, European and Far Eastern markets. Roger remains Chairman or
Non-Executive Director of several private family and private equity
backed companies and runs his own company, Fullzone Limited
The
evaluation committee for the Northern England and the Midlands
region includes: Lucy Armstrong, Chief Executive, The Alchemists (Northern)
Limited;
Miles Brough, Managing Director, Jesse Brough Metals International
Limited;
Dr Carole Howorth, Senior Lecturer, Lancaster University Management
School;
David Johnson, Director, Leaders Matter; Peter Leach, Peter Leach
LLP;
Christopher Oughtred, Former Chairman, William Jackson & Son Limited;
John
Williams, Chairman, Tomorrow's Company.
Renowned
cartoonist, Robert Duncan, will create a unique cartoon for each of
the winners, to tell their own story. The cartoons are framed by
second generation family business John Jones. Silver plaques are made
by third generation family business, Piccadilly Jewellers of Birmingham.
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