Rega has announced that it is now officially an employee-owned business. Founded by Roy Gandy in 1973, the specialist hi-fi brand is renowned for its turntables (such as the iconic Planar 3), along with cartridges, amplifiers, phono stages, CD players and even speakers that are made in the UK.
As of 28th October 2024, an Employee Ownership Trust now owns Rega Research Ltd on behalf of all employees, who are beneficiaries (also known as Indirect Ownership).
According to Rega's statement: "On this day, Roy Gandy gifted 100% of his shares (full ownership) of the company to a Trust to protect Rega long into the future. This incredible gesture, of which Roy Gandy receives zero financial gain, has allowed Rega to become an Employee Ownership Trust (EOT). Becoming an EOT has many advantages, however, the main reason is to protect our culture and decades of hard work. Becoming an EOT prevents the company being sold and potential buyouts (by the dreaded investors) whilst providing all staff with job security going forward."
Roy Gandy will continue in his sole director role and be involved in R&D and sales – two areas he enjoys most, we're told. The brand's day-to-day won't change, says Rega, with its long history of designing and manufacturing products in-house – from its facility in Southend, Essex – continuing as normal.
The 51-year-old brand joins hi-fi retailers Sevenoaks and Richer Sounds in becoming an EOT in the UK, while other notable brands such as John Lewis and Aardman Animations are also employee-owned. In 2019, Julian Richer transferred 60% of his shares to an EOT called the Richer Sounds Trust, while Sevenoaks became an employee-owned business earlier this year in June.
Rega has been on superb form in recent years, with five-star reviews and What Hi-Fi? Award wins aplenty for its excellent turntables, stereo amplifiers and phono stages. The brand prides itself in doing things its own way, stating: "We never bow to industry pressure and actively work on being different from other companies." You can see the full announcement on Rega's website.
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