Burts Potato Chips directors Nick Hurst and Jonty White have sold their shares in the Devon-based crisps company to existing investors.
Hurst and White, who took the brand nationwide after buying the business from co-founder Richard Burt in 2000, “cashed in their chips” yesterday, the company said.
Fine food importer Empire Foodbrokers, an existing investor, has taken an increased shareholding in the business.
Although Hurst and his family sold their shares in the business, he will continue to have a non-executive role as “founder director”.
“After a successful 10 years on the management board I have reflected on the changing needs of the business and decided the time is right to step down from the board, whilst continuing to play a large part in the next phase of growth,” he said.
White, the former marketing director, sold his shares after a 12-month sabbatical away from the business. Burts said his departure was on “amicable terms”.
The increased shareholder investment had already grown manufacturing capacity and would bring increased employment opportunities to the Devon region, Burts MD David Nairn claimed.