- Tregroes Waffles is a small, family run Bakery based in the Teifi Valley in South-West Wales. It started life in 1983 when Kees Huysmans came to Wales and set up a market stall selling his version of traditional Dutch stroop.
- Recruiting locally, the business employees 15 people and remains strongly embedded in the community – a local institution.
- The owner began to explore the concept of Employee Ownership about five years before the transition started, inspired by the John Lewis Partnership model.
- In 2016, Kees sold 10% of his shares to the Trust using company profits to pay for them. As part of the agreement, the owner will sell a further 10% to the Trust each year provided the company is able to pay for them.
- The Employee Ownership model has enabled Tregroes Waffles to maintain and build upon its success in the area.
- Benefits: smooth business succession, keeping the company locally-rooted, workforce empowerment, buy-in and engagement, and the ability to manage ongoing culture change.
- Learnings: a successful transition relies upon careful planning, a strong team, expert external advisors, and a realistic timetable and a shared belief in the ongoing viability and strength of the brand.
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