The Entertainer to become employee owned
The group that owns The Entertainer, Early Learning Centre and Addo Play is to be transferred to an employee ownership trust.
Due to complete in September, the move is the culmination of a long-term succession plan.
Subscribe to TRBFounded in 1981 by Gary and Catherine Grant, The Entertainer has grown from one shop to a multichannel international toy business. In the UK, the retailer sells toys in over 160 stores and through over 1,000 concessions including at Tesco, Matalan & M&S.
As beneficiaries of the trust, employees will receive tax-free bonuses linked to the business’s future profits. They will also have a say in the group’s direction, sharing both the responsibility and the rewards.
The move will include the creation of a colleague advisory board that will help shape policies, share colleague sentiment and ideas and will have a representative that will sit on the three person trust board.
Andrew Murphy, group chief executive of TEAL Group Holdings, said: “What the Grant family have built is a true British success story – all the more impressive for having consistently championed the belief that business can be a force for good across the communities they serve.
“I have learned so much from Gary and the Grant family over the last two years and have thoroughly enjoyed working with them as we took the business into a new phase of growth both in the UK and internationally.
“The group’s operational and financial strength provides a solid foundation for future success with a clear growth strategy, a dedicated and passionate team and a fantastic product offer.
“Since joining in 2023, I am proud of the strong Leadership Team we’ve built to deliver our ‘Play to Win’ strategy and it is this team which will now provide continuity to our employees and trading partners as we transition into our new EOT ownership model.
“I know that our new structure will bring us even closer as a business and will provide our hard-working employees with a sense of opportunity, accountability and belonging as we work to create more memories, inspire wonder and deliver outstanding customer service. I am hugely excited for what lies ahead.”
Gary Grant, co-founder and executive chairman of TEAL Group Holdings, said: “Today marks a momentous day for the Grant family. It feels like only yesterday that my wife Catherine and I opened our first store in Amersham, and we could only have dreamed what heights the business would reach.
“Over the last 44 years, we have invested our working lives into this business. All our children are shareholders, and our two oldest sons joined to work alongside us, 20 years ago – so it’s truly a family business.
“This is a significant decision for the family, and one we haven’t taken lightly, but it feels like the right time to transfer our entire shareholding into an Employee Ownership Trust.
“Ensuring our employees have a place in the group’s future is hugely important to us.
“The business is in strong hands with Andrew Murphy and his team at the helm and we wish them all the very best as they take The Entertainer through this exciting next chapter of growth.”
