Sheila Donatantonio has led a £12.1m management buy-out of UK-based Italian ingredients supplier Donatantonio and has taken it off the stockmarket.
The move was funded by the Royal Bank of Scotland and by Sheila Donatantonio who is the current managing director.
She said Donatantonio had been subjected to fierce pressure from shareholders to chase short-term, false targets. This, she said, would have led to compromises over quality and consumer choice.
“Corporate governance, costs and red tape outweighed the benefits of remaining public.”
The management has been boosted with Chris Welsh joining from Saclà UK as sales director and Rod Garland, WT Foods group finance director, becoming a non-executive director of the company.
Donatantonio, which supplies the Lupa range, was set up in 1902 by Luigi Donatantonio and is now run by the third and fourth generation of the family.
The move was funded by the Royal Bank of Scotland and by Sheila Donatantonio who is the current managing director.
She said Donatantonio had been subjected to fierce pressure from shareholders to chase short-term, false targets. This, she said, would have led to compromises over quality and consumer choice.
“Corporate governance, costs and red tape outweighed the benefits of remaining public.”
The management has been boosted with Chris Welsh joining from Saclà UK as sales director and Rod Garland, WT Foods group finance director, becoming a non-executive director of the company.
Donatantonio, which supplies the Lupa range, was set up in 1902 by Luigi Donatantonio and is now run by the third and fourth generation of the family.
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