Croydon-based pharmaceutical company named ‘Best UK Family Business, London and Greater London Region, £25m+ turnover category’
Day Lewis Plc from Surrey, has been named ‘Best UK Family Business, London and Greater London Region’, in the £25m+ turnover category of the Coutts Prize for Family Business 2009/10. The company will now go on to compete in the £25m+ category at the national finals to be held in central London on 8 June 2010.
The awards, now in their fifth year, represent the only regional programme in England and Wales celebrating the overall best-performing medium-sized and large family businesses within three regions: Northern England and the Midlands; London & Greater London; and Southern England & Wales. Within the three regions, there are two turnover categories: medium (£5-25m) and large (£25m+)
Day Lewis Plc is the UK and Europe’s largest independently owned pharmacy local chain. The company has over 165 pharmacies across the country as well as a central distribution and wholesaling company. Now employing over 1300 staff, with turnover in excess of £150m, the business has grown substantially from that first pharmacy bought by the family in Southborough in 1975 and is now run by the first and second generation.
Christopher Oughtred, Regional Chair of the evaluation committee commented:
"As a successful first and second generation family business, the things that impressed the evaluation committee about Day Lewis included:
Juliette Johnson, Head of UK Family Business, Coutts & Co added "We're delighted to provide recognition to this special family business and showcase their achievements for the benefit of other family businesses. What really shines through is the strength of the family's values. These influence how and why things get done and act as the glue binding the family and business together. These strong values, coupled with their conservative approach and long term planning, should give them the best possible chance to weather this current economic downturn."
With the current economic downturn, businesses are finding it increasingly difficult to survive, which therefore increases the value of recognising these family businesses and their work. The companies that scored most highly were the ones that were able to give examples of what they had achieved.
Mark Evans, Head of Coutts institute, Coutts & Co, commented: "Success factors that can help family businesses adapt to the current economic downturn are at the heart of the fifth Coutts Prize for Family Business. It will be equally important to take active steps to manage the family as well as the business to survive the current recession."
Kirit Patel, CEO, Day Lewis Plc, and first generation member of the Patel family said: "We are extremely pleased to receive the Coutts Prize for Family Business in recognition of the hard work of all our managers and staff and our family unity."
The Coutts Prize for Family Business 2009/10
The Coutts Prize for Family Business, endorsed by organisations such as the British Chambers of Commerce, Cranfield University and the Society for Trust and Estate Practitioners, recognises the best run family businesses in England and Wales. It is the only regional and national awards programme in England and Wales celebrating the overall best-performing medium and large family businesses. The Prize complements Coutts’ successful Family Business Forum that is held throughout the UK.
As part of the process, nominations are reviewed by an independent evaluation committee comprised of family business owners, academics and advisers.
The Coutts Prize recognises firms in two categories – medium (£5-25m) and large (£25m+) that demonstrate a combination of high standards of family and corporate governance; a competitive market position; consistent financial growth; and a track record of charitable giving or involvement in the local community.
Entrants have to be companies or firms headquartered in England or Wales that consider themselves to be a family business, wholly or mainly carrying on a trading activity, and that have been profitable in at least two of the past three years.
More specifically, the independent evaluation committee looks for examples of best practice including;
The independent evaluation committee is overseen by Roger Pedder, who was Chairman between 1993 and 2006 of C&J Clark Ltd (Clark Shoes), one of the UK's largest private family companies. It was established in 1825 and is in its sixth generation. Clarks is the leading shoe retailer and brand in the UK and has significant positions in North American, European and Far Eastern markets. Roger remains Chairman or Non-Executive Director of several private family and private equity backed companies and runs his own company, Fullzone Limited
The evaluation committee for the London and Greater London region includes: Christopher Oughtred, Former Chairman, William Jackson & Son Limited; Professor David Grayson OBE, Director Doughty Centre for Corporate Responsibility, Cranfield School of Management; Shaheena Janjuha-Jivraj, Senior Lecturer, Entrepreneurship University of Reading Business School; Peter Leach, Peter Leach LLP; Ian Mash, Mediator and Founder, familydr; William Notcutt, Deputy Chairman, Notcutts Limited; Jack Stopforth, Chairman, Liverpool Chamber of Commerce and Robert Wilson, Chairman, Nelsons.
Renowned cartoonist, Robert Duncan, will create a unique cartoon for each of the winners, to tell their own story. The cartoons are framed by second generation family business John Jones. Silver plaques are made by third generation family business, Piccadilly Jewellers of Birmingham
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For further media information on Coutts contact:
Steve Ainger, Coutts & Co on 0207 753 1255 or e-mail steve.ainger@coutts.com
Notes to Editors
