Garenne Group, which counts Garenne Investments Ltd. among its constituent businesses, has announced a change to its business model following the retirement of two key executives and retirement planning for the principal shareholder.
The change will result in a shift towards an investment-based model, intended to reduce group executive involvement, and the placing of ownership more directly into the hands of senior directors of the group's various trading companies, it said in a statement. The change will take the form of a management buyout.
There are 13 Garenne Group companies, including RG Falla, Camerons, AFM in Guernsey and Jersey, and Geomarine and the Rabeys garages in both Channel Islands.
Stuart Falla, Garenne Group, said: "This restructuring is another key milestone in our 39-year history and will give the directors of these companies a fantastic opportunity to grow and develop the markets within which they operate."
"Each company is market-leading and goes into the future with a very solid foundation for growth. So, it's an ideal time to make these changes to ensure the sustained success of the organisations, leaving them in the hands of those people who have helped to build them."
