Anne Bruce Family owned soups and pickles company Baxters is on the acquisition trail after shaking up its senior management. Chairman and chief executive Audrey Baxter said the business was "on a firm footing", and would remain "100% in control of its operations", scotching rumours that buyers were circling. She also ruled out any possibility of floating on the Stock Exchange. She said: "Profits are ahead of last year and we do not foresee any requirement for additional equity." Remaining firmly independent, Baxters is "about to gain momentum" under a new management board of five directors and a separate policy unit with two directors Baxter said: "You need to know clearly where you are going ­ the new policy unit is going to investigate opportunities that, perhaps, in the past we have not been able to consider, such as new overseas markets, technologies or joint branded ventures." Speyside based Baxters operates in Canada, the US, Australia, New Zealand and South Africa as well as Europe. Baxter said further acquisitions and expansion in the domestic market and overseas is high on the agenda, as the policy unit "looks at marrying up expansion and acquisition plans". With sales predicted to be around £68m this financial year, a key goal for next year will be on stepping up distribution through the multiples to get branded and own brand products in more stores. Baxter said: "The business is performing well and we are on a very strong footing for continuous improvement." The new board comprises Robin Lambie as director of demand chain, overseeing sales and marketing, Nic Wheater director of ambient operations, and Cliff Deans director of commercial operations. There are two outside recruits, Howard Farquhar as director of fresh and frozen operations, and Matthew Kearslake from Prestige Purchasing who becomes director of supply chain. Norman Soutar becomes director of corporate strategy in the policy unit and Andrew Baxter, brother to Audrey, director of continuous improvement and process change. {{NEWS }}