Manchester-based giftware importer and distributor Joe Davies has announced that it is to become a 100 percent employee-owned business.
The shareholding of the business will be held by the Joe Davies Employee Ownership Trust (EOT) for the benefit of all employees.
The existing management team remains in place, headed up by CEO Steve Davies, it was Steve's great grandfather Joe that set up the business 105 years ago.
Davies commented; "I'm very proud to be able to say that the transition of the company to a 100 percent employee-owned business will see Joe Davies being run, and owned, by the very people that make Joe Davies what it is."
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