The Jordans brothers have acquired a majority ownership in European Oat Millers (EOM) in a bid to develop the milling company.
David and Bill Jordan, brothers behind the Jordans Cereal brand, were already shareholders in the oat milling business, and have taken the shares of current company chairman Moez Karsan and his wife Naseen Karsan.
The Bedford-based oat company supplies oats and other grain ingredients to major producers of cereals and oat products, such as biscuits. It now claims to be the second-largest oat miller in Europe in terms of capacity and B2B market share.
Bill Jordan said: “The new EOM board will be backing our management team with an investment programme aimed to create substantial additional capacity in our milling business. EOM will continue to invest to make sure we keep delighting our customers with world-class technical and service standards and to help the company to keep expanding its horizons.
“The contribution Moez has made to this sector and to European Oat Millers in particular cannot be underestimated. We wish him and his wife an extremely long and happy future. The greatest testament to his achievement will be the continued growth and prosperity of this business, to which we and the management team are dedicated.”
EOM has three sites in Bedford, and currently employs 150 people. The company’s relationship with Jordans dates back to the 1980s, when it helped develop the first granola bar in the UK market.
Jordans Cereals sold 20% of the business to Associated British Foods in 2008.
Moez Karsan said: “I’m delighted that David and Bill wanted to buy my stake in this great business.
“It cements a friendship that has lasted for over 30 years and I know the company will go from strength to strength under their stewardship.”