More than 1,000 of Palmer and Harvey’s 3,849 employees have shares in the company thanks to a £172m buyout in 2002 led by Christopher Adams and supported by Barclays, Burdale and Royal Bank of Scotland. Palmer and Harvey is a wholesaler and distributor of food and delivers more than a quarter of all the cigarettes sold in Britain. Its sales rose by £220m to £3,547m in 2003 and operating profits increased by £6m to £18m.
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