The Auchrannie resort in Brodick is to transfer ownership to its employees.
All current shareholders have agreed to transfer their shares to an Employee Ownership Trust in order, it says, to protect the company’s values and to ensure that Auchrannie will never be sold to a organisation which might not maintain these values.
The move was welcomed by workers and the wider community this week as it will give the 160 employees security of employment as well as share dividends in the future.
Established by Iain and Linda Johnston in 1988, Auchrannie currently remains under the ownership of the Johnston family and the business has an annual turnover of £7.3 million.
By transferring their shares to an Employee Ownership Trust, the current shareholders believe they will protect Auchrannie’s contribution to its team and the island. They are also determined that the resort continues to be operated in accordance with Auchrannie’s values.