Veg box firm Riverford to be 100% staff-owned as founder sells stake for £10m

Exclusive: Guy Singh-Watson says he will continue to be involved in the business and will pay full tax on dividend

The organic vegetable box company Riverford is to become 100% owned by its staff after its founder, Guy Singh-Watson, agreed to sell his remaining 23% stake for almost £10m.

Singh-Watson, who sold nearly three-quarters of the company to employees in 2018, will take a £9.8m payment over five years and immediately hand full control to a trust on behalf of its 900 staff who each receive an annual profit share and participate in the running of the business.