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National Winners of Coutts Prize for Family Business Announced

The winners of the national finals of the Coutts Prize for Family Business, were announced last night at a glittering awards ceremony, at Coutts’ Headquarters on the Strand in London.

After a series of regional heats, shortlisted companies went on to compete in three turnover categories -  £1-5m, £5-50m and £50m plus. A ‘Special Prize’ was also awarded for commitment to philanthropic activity.

WINNERS

1) £1-5m – M Newitt & Sons – Butchers based in Oxfordshire. Three years ago, M Newitt & Sons was a small yet successful family butcher, based in Thame and generating sales of £1 million a year. Today, Newitt’s sales have trebled to £3 million, through the opening of branded Newitt counters in 31 branches of Budgens. In addition to leveraging James Newitt’s experience of working outside the family firm, the business also showed an impressive level of community involvement through advancing food education amongst children with practical onsite demonstrations and teaching in schools.

2) £5-50m – English Lakes Hotels – Cumbrian hotelier. Founded in 1952, with the purchase of Low Wood Hotel, the company now has five hotels in and around the Lake District. Having weathered the storm of the early 1990’s recession and experiencing the burden of a £5.5 million debt, English Lakes today has a turnover of £13 million a year. It has actively used non-executive directors, created software for a new booking system that several other hotels have adopted,  and has clear objectives of creating a sustainable business that can be passed down to future generations.

3) £50m plus - Pertemps Ltd - The transformation of Pertemps into a multi-million pound business began in the 1970’s when founder, Mrs Constance Watts was joined in the family business by her entrepreneurial son Tim. The following years saw rapid expansion across the Midlands and then the UK, followed by a series of acquistions in the 1990’s which expanded the group further. Its evolution to a shared leadership business model, combined with a strong performance culture and its use of external ‘gurus’ in strategic planning, have proven a winning combination. Its financial support of the Spinal Injuries Association and payroll giving with matched funding for employees are also commendable examples of its dedication to community involvement.

4) Special Prize – Pollard’s Tea & Coffee. The Sheffield based coffee retailer was founded in 1879, when grocer Joseph Pollard started to roast his own coffee, the company has gone from strength to strength and is today renown for holding the Guiness World Record for the world’s largest cappuccino. What really made Pollard’s stand out was its sincere commitment to social responsibility. Managing Director, Simon Bower, is passionately committed to supporting Fair Trade and also supports the business’ coffee growers in India, making every effort to support both the pickers and planters while they are working and when they retire. His next priority is to expand their 40-strong workforce to embrace people with learning difficulties. Where much bigger companies pay lip service to social responsibility, Pollard’s incorporates it directly into the business.

Mark Evans, head of family business, Coutts & Co, commented: "The Coutts Prize is different to other awards in that it aims to recognise the overall best performing family businesses at the same time as raising awareness of the economic and social benefits that small, medium as well as large family businesses bring us both regionally and nationally. The Prize also gives family businesses the opportunity to benchmark themselves against their peers."

The Coutts Prize recognises firms in three categories (£1m-5m, £5m-£50m, £50m+) that demonstrate a combination of best practice in family and corporate governance, business succession, business strategy, innovation and charitable giving. Entrants must be companies or firms where family members have control of more than 25% of the voting shares and think of themselves as a family business. More specifically, the independent evaluation committee judging the Prize, has looked for examples of best practice, such as the successful integration of non-family executives, good practice in educating family members entering the business, examples of challenges that businesses have faced and overcome, and an understanding of the business’s approach to strategic giving. 

Each of the winners in the £1-5m, £5-50m and £50m plus turnover categories, have won the opportunity to have the story of their family business written by Matthew Boyden, author of the Rough Guide to Opera and seven other books including biographies of Richard Strauss and Arnold Schoenberg. Mark Evans added: “Family businesses, particularly those which have continued for many generations, have fascinating histories and stories to tell, which they want to pass down to future generations. We wanted to award the winners with something unique to them that will be treasured forever.”

The independent evaluation committee is overseen by Roger Pedder, Chairman of C&J Clark (Clarks Shoes) Ltd, one of the UK’s largest private family companies.

Each of the winning businesses, have won the opportunity to have the story of their family business written by Matthew Boyden, author of the Rough Guide to Opera and seven other books including biographies of Richard Strauss and Arnold Schoenberg.

- ENDS -

For further information or to speak with the family businesses involved in the programme, please contact:

Claire Symonds, Regional PR Manager, Coutts & Co on 0207 957 2650 or mobile 07970 001149 or e-mail claire.symonds@coutts.com

Notes to Editors

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