New Investment At One Of The Oldest Family Businesses In Britain
30th January 2013 Paul Andrews
Toye receive cash injection from property sale
Midlands-based Toye & Co, one of the oldest family businesses in the UK has entered into an agreement with Stability Investments regarding the development and future sale of its London property. The company will immediately receive a significant cash injection and two new directors are being appointed to the board.
Toye & Co has exceptional manufacturing craft skills and a reputation for producing products of the very highest quality. As a consequence of this deal, the company is now able to build on this base and invest in its Midlands operations to improve efficiency and enhance the service it provides to its customers.
“This is an exciting development for us, heralding a new era for the company” said Chief Executive Fiona Toye. “In exchange for a large London facility that no longer suits our needs we now have both the resources to invest and innovate for the long term future of the business and new expertise on our board. This is an excellent platform from which we can look forward to our next three centuries in business.”
The two new board members are Robert Luck and Robin Edwards. Birmingham-born Robert Luck has property and design expertise and will provide new contacts within one of Toye & Co’s most important markets. Robin Edwards has both financial and marketing expertise and both have a genuine interest and enthusiasm for the company’s craft skills.
Toye & Co’s very large property on Great Queen Street is greatly under utilised and so it is no longer sensible to maintain this facility. The company is retaining its shop and the Clubroom at Toye for the immediate future so customers can easily visit and purchase products as usual. Purchases may also be made online at www.thetoyeshop.com. The company is in the process of developing a business plan that includes the best way to serve the London markets.