TUGO Food Becomes Employee-Owned In Major Step For Foodservice Sector
Food and product development specialists Tugo Food has transitioned to an Employee Ownership Trust (EOT), giving the team both a financial stake and a say in how the business operates. The move not only secures the company’s long-term future, it’s great news for the industry.
Tugo’s team are now stakeholders in the business, making them even more invested in strong relationships and developing exciting innovation for clients in hospitality, leisure and education sectors.
CEO Lee Personius described the shift as a milestone for the trade and for the business. “This is good news for the industry as the transition to EOT strengthens our independence, protects our culture and lays the foundation for sustainable growth,” he said. “Our team has always been central to Tugo’s success, and this move ensures they share in the value they help create.”
According to HR director Lynn Ford, the transition to EOT will foster a culture of collaboration, continuous improvement, and shared purpose.
“Employee ownership will increase engagement, which leads to higher productivity, lower staff turnover and greater collaboration and innovation – great for both the industry and the business,” Ford said.
From menu innovation and dish development to marketing, training and logistics, Tugo’s team of stakeholders will continue to help operators deliver creative, scalable solutions aligned with market trends. Tugo, which was founded 16 years ago, is already recognised for its workplace culture, holding IIP Gold accreditation, being named one of the Sunday Times Best Places to Work, and achieving B Corp certification. The EOT strengthens its position as a values-driven company and partner.
Personius added that he hopes the move will encourage other businesses in the sector to explore alternative ownership models.
“We always strive to champion change and do things differently at Tugo and my vision is that this move inspires more businesses in foodservice to consider this model to benefit those at the very heart of their businesses.”
The transition was supported by legal, financial and strategic advisors to ensure a smooth and transparent process.