New era dawns for Oundle packaging company as it becomes Employee Ownership Trust

A long-established packaging company in Oundle has entered a new era as it looks to grow its operations.

KM Packaging, in West Street and which has a team of 24 staff, has become an Employee Ownership Trust - 38 years after its founding.

It means staff have a controlling interest in the company through the all-employee trust into which the business owners sell their shares.

The company says the move will ensure it remains true to its core values while continuing to grow and innovate for the long term benefit of staff, customers, and partners.

The company will continue to be managed on a daily basis by the existing management team while the trust will be a ‘guiding hand’ ensuring its long-term stability and success.

Current directors, Charles Smithson and Graham Holding, will remain with the business.

Mr Smithson said: “KM is proudly independent and has achieved significant growth in domestic and export markets.

“The Employee Ownership Trust is a natural transition as it builds on the company’s values of trust, ownership, passion and innovation established over the last 38 years.

He added: “The company’s employees are passionate about the business and its values.

“They are the people who should reap the future rewards for their hard work and dedication.”

The firm has a worldwide customer base and supplies packaging solutions for the produce, ambient, chilled and frozen convenience food markets and for confectionery and snacks.