Fresh Group spins off sales promotion arm

FRESH Group, the North West events and communications agency, has spun off its sales promotion arm freshrewards in a management buyout.

The Cheadle-based group, which organises events for major corporate clients and also offers services such as video and advertising, say the MBO will give both businesses greater focus.

Freshrewards, which also trades as freshtravel is forecast to have sales of £3m turnover for the 2011/12 financial year. It will be rebranded as INSPIRE by its new owners and founders Keith Herman and Peter Pantelides.

INSPIRE will continue to be based at Fresh Group’s head office in Cheadle.
Fresh is owned by chairman Nick Porter and chief executive Julie Besbrode, and is expected to turn over £11m this year.

Peter Pantelides, co-founder of freshrewards said, “We have continued to grow and expand the business profitably with some new and exciting products and both Nick and Julie felt they could not commit more time with their present workload. The decision and timing was right for everyone.”

Nick Porter, fresh Group chairman added: “The team at freshrewards have got a clear and exciting vision for the company. We look forward to a continued working relationship with Peter, Keith and their team and we wish them all the best for the future.”