Black Tomato Founders Sell 75% to Employee Ownership Trust — But Keep Control: Exclusive
Skift Take
The founders of Black Tomato have sold the majority of their shares in a deal that gives them liquidity while keeping decision-making power — and qualifies them for a potential tax benefit.
Luxury tour operator Black Tomato has sold 75% of the business into an employee ownership trust, according to company documents and an exclusive executive interview.
The founders still have 25% minority stake through a new B share class, according to 2026 articles of association published on Companies House — and they kept decision-making power.
Co-founder Tom Marchant told Skift the establishment of the Black Tomato Employee Ownership Trust was a “smart way of evolving the business” while giving staff confidence that its “spirit and its approach” will be protected — and also offering potential upside “down the line.”
The transaction was completed in early July. Skift is reporting the details of the trust for the first time and employees were told of the transaction on Monday. Advisory firm Grant Thornton, which led the process, carried out an independent valuation of Black Tomato. Marchant declined to disclose the companyâ€