Owner of Suffolk coffee firm Paddy & Scott’s, which has cafés in Ipswich and Hadleigh, Scott Russell departs after management buy-out
The founder of a Suffolk-based coffee firm has bid farewell after management bought out the company.
Jon Reed, chief executive, and Zoe Hill, operations director, purchased Paddy and Scott’s from founder Scott Russell.
They secured significant funding to buy the firm, which has its flagship café in Ipswich, after its ‘record-breaking’ performance in 2023.
Mr Reed said he hoped this would breathe new energy into the firm as it celebrates 17 years.
Mr Russell, who founded the company in 2007 alongside Paddy Bishopp, said: “In the last year, Paddy & Scott’s success has attracted multiple approaches to acquire the business, but I really can’t see Paddy & Scott’s future in the hands of a corporate organisation.
“Paddy & Scott’s is a Suffolk business, focused on empowering coffee farmers and the wider community. I’m delighted the company will continue to be independently owned and operated by the management team.”
He said he was extremely proud of his accomplishments – and described handing over the keys as a ‘proud moment’.
“The company is in great hands and I wish them all well for the future,” he said.
“I know they have big plans and I’m excited to watch Jon and Zoe take the business forward in new directions.”
Jon said management had been hard at work since 2020 transforming the company.
He said: “When the opportunity arose to acquire the business and safeguard our future commitments to coffee farmers and their families, it was something we just had to look at.”
Zoe, who joined the firm 10 years ago, said it was a moment of pride to call herself the proud custodian and owner.
She said: “We feel it is the perfect time to embark on the next chapter of our journey.
“Over the years, we have built a team of incredible people and look forward to empowering more coffee farmers, providing more school meals and ambition to children in coffee growing regions.”