Wine merchant Jascots in management buyout

Two executives at UK wine merchant Jascots have purchased a controlling share in the company from founder Jack Scott, who will remain as a non-executive director.

John Charnock and Miles MacInnes (Photo: Jascots)

Miles MacInnes, former sales and marketing director, and John Charnock, former managing director, have become joint managing partners in the business.

Directors Dipak Thapa (Finance), Dean Hammond (Operations) and Ben Scott (Key Accounts and Events) have also been made partners in the business.

MacInnes said that the buy-out will not lead to a drastic change in strategy for the London-based merchant.

“The plan is to keep going in the direction we have set over the last four years, focusing on delivering amazing wines to the restaurants, hotels and caterers of London and the UK with the best customer service in the industry”, he said.

“We have enjoyed our most successful year yet in 15-16 and we predict 15% growth in 16-17”.

Jascots had a turnover of £8 million in the 12 months to the end of March, up from £7.5m last year.

Charnock was managing director for five years and MacInnes had been sales and marketing director for the same length of time.

Despite the new shared job title, Charnock will manage finances and MacInnes will focus on marketing and products, a company statement said.

Jascots is aiming to grow its portfolio by 5% this year, with a focus on wines quality wines for under £30 excluding VAT.