Nelsons wins Coutts Prize for Family Business


Natural medicine & healthcare manufacturer from Wimbledon named ‘Best UK Family Business, £25m+ turnover category’

Last night, Nelsons from Wimbledon, was named ‘Best UK Family Business in the £25m+ turnover category of the Coutts Prize for Family Business 2008/9. The family beat off stiff competition in a category with entries from a variety of industries including: agriculture, care homes, building contractors, food wholesalers, mechanical contracting, pharmaceuticals and recruitment.

Founded in 1860, Nelsons is a global independent business which was acquired by the Wilson family in 1974, who brought to the company a long standing commitment to the principles and development of complementary medicine and to supplying natural medicines throughout the world. As a second generation business, with over 200 full time employees, today the business is led by two brothers, Robert and Patrick Wilson, manufacturing and selling, natural medicines and healthcare products such as Rescue Remedy®, Bach™

Original Flower Remedies, Nelsons Arnicare™, Nelsons Teetha™, Nelsons™ Homeopathy and Spatone™. Jonathan Hagger, former Chief Financial Officer, Grosvenor Estate, acting Chairman of the independent evaluation committee for the £25 million+ category commented: “As a successful second generation family business, which has displayed an impressive level of growth and produced a business which will flourish regardless of the economic cycle, the things that impressed the evaluation committee about Nelsons included:

  • the incorporation of family values into the brand reputation;
  • the close link between corporate and family governance with some non-executive directors also acting as family trustees;
  • the use of a phantom share scheme to incentivise key non-family managers;
  • the pace of growth over two generations to become a market leader;
  • the emphasis placed on communication including quarterly staff meetings hosted by the Chairman; and
  • the importance of corporate and family philanthropy including the establishment of a family charitable trust, donations of homeopathic medicines and gifts of over £1,000,000 per annum.”

Mark Evans, Head of Family Business, Coutts & Co, commented: “In today’s tough times, it is more important than ever to leverage the competitive advantage of being a family business. Becoming a Coutts Prize for Family Business National Winner is a unique differentiator that can be used in cementing relationships with customers, suppliers, and employees.”

Juliette Johnson, Senior Family Business Adviser, Coutts & Co added "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.”

The Coutts Prize for Family Business recognises the best run family businesses in England and Wales, and is the only regional and national awards programme in England and Wales celebrating the overall best performing small, medium-sized and large family businesses. The Prize, compliments Coutts successful Forum for Family Business Owners that is held throughout the UK.

The Coutts Prize recognises firms in three categories (£1m-5m, £5m-£25m, £25m+) that demonstrate a combination of high standards of family governance and corporate governance, a competitive market position, consistent financial growth, and a track record of charitable giving or involvement in local community. Entrants must be companies or firms where two or more family members together have control of over 25% of the voting shares and consider themselves as a family business.

More specifically, the independent evaluation committee was looking for examples of best practice including;

  • the strength of the family’s values;
  • the involvement of the family;
  • communication and planning;
  • the separation of ‘ownership’ and ‘management’;
  • the use of external, independent advice;
  • the development of a succession planning process;
  • next generation development;
  • conflict management; and
  • philanthropy and charitable involvement.
The independent evaluation committee is overseen by Roger Pedder, former 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, including Spa&Salon International.

The evaluation committee includes: National Chairman Roger Pedder, Lucy Armstrong Chief Executive, The Alchemists (Northern) Limited; Peter Bishop, Deputy Chief Executive, London Chamber of Commerce; Jonathan Hagger, Former Chief Financial Officer, Grosvenor Estate Dr Shaheena Janjuha-Jivraj, Senior Lecturer, Entrepreneurship Henley Business School, University of Reading; David Johnson, Director, Leaders Matter; Peter Leach, Family Business Consultant and Teacher; David Molian, Lecturer, Bettany Centre for Entrepreneurial Performance and Economics; Edward Nicholson, Managing Partner, Mercator Partnership Limited; William Notcutt, Deputy Chairman, Notcutts Limited; Farouk Sheikh, Founder and Executive Chairman, Care Tech Holdings plc.

The National Winners are invited to choose one of the following Prizes:

  • to create a video diary enabling them to communicate their family values for posterity;
  • to produce a collection of portrait photographs conveying the essence of their family business; or
  • to attend a four day Coutts Cranfield Family Business Programme to consider new ways of developing their business.

For further information about the Coutts Prize for Family Prize visit www.coutts.com/familybusiness  

For further media information on Coutts contact: Jo Thorne, PR Manager, Coutts & Co on 0207 957 2650 or mobile 07855411626 or e-mail Joanna.thorne@coutts.com  

Notes to Editors

  • Coutts & Co is the UK private banking arm of the Royal Bank of Scotland.
  • The first Coutts & Co regional office to be opened was Eton in 1961. Today, Coutts & Co has regional offices in Bath, Birmingham, Bournemouth, Bristol, Cambridge, Cardiff, Chelmsford, Cheltenham, Eton, Exeter, Guildford, Hampshire, Leeds, Liverpool, Manchester, Milton Keynes, Newcastle, Nottingham, Oxford, Reading and Tunbridge Wells.
  • Coutts & Co offers clients a range of products and services covering sophisticated investment products together with expertise in trust and fiduciary services and UK tax and banking services. Coutts commercial banking arm also provides full banking service to UK businesses.
  • Coutts & Co is authorised and regulated by the Financial Services Authority. Coutts & Co Registered in England No 36695 Registered Office 440 Strand London WC2R 0QS.
  • Call may be recorded.
  • For more information on nelsons, visit www.nelsons.net