A PRESENTATION TO

DCU - Family Business Succession

by

Vincent Carton

Poultry Industry - up to 1960’s

Boiling Fowl Spring Chicken

2014 41m Birds

155,000T feed €238m

865 employees

Carton Bros, Poulterers since 1775

2013 40m Birds

151,000T feed €231m

815 employees

Succession – Carton’s Story

Succession

1. William Carton 1723 – 1790 Carpenter/Livery stable

2. George Carton 1755 – 1804 Livery stable

3. Peter Carton 1787 – 1830 Poulterer

4. Denis Carton 1813 – 1865 Fowl & Game Factor

5. Thomas Carton 1844 – 1927 Joseph Carton 1842 – 1921 Partners, Carton Bros. Peter Joseph Carton 1851 – 1938

6. Vincent Denis Carton 1888 – 1963 Fonso Carton 1885 – 1981 Directors, Carton Bros Ado Carton * 1894 – 1990 Thomas Martin Carton 1897 – 1967 Leo Anthony Carton 1887 – 1913 Worked in Carton Bros Peter John Carton 1898 – 1936

7. Thomas P. Carton 1922 – 2012 Brian Carton 1924 – 1985 Directors, Carton Bros Myles Carton * 1928 – Hugh Carton * 1920 – 2003

8. Vincent Carton 1958 – Justin Carton 1959 –

Carton Bros

Estd. 1775

Poultry & Game - 1775 - Present Boiling Fowl 1775 – 1960’s Turkey (Christmas) 1880’s – 1976 Rabbits 1890’s – 1956 Game 1890’s – 1980’s Chickens - 1961 – present Hatchery 1968 – 2008 Processing 1961 – present Feed Mill 1976 - present

Eggs 1890’s - 1988

Tea 1930’s - 1969

Grocery 1890’s – 1976 Cash & Carry’s 1950’s - 1976

Butter 1880’s - 1970

Bachelors' Peas 1927 - 1938

Wines & Spirits 1850’s - 1965

Imported Tinned Fruit Agents 1950’s - 1986

Chilled Food Distribution 1991 - 2003

Carton Bros

Estd. 1775

• Family – Happiness

– Wealth transfer & growth

– Togetherness

– Fairness

• Business – Values

– Meritocracy

– Professionally managed

• Divorce / Spouses / Capital

Family Business Dilemmas

1. William Carton (1723 – 1790)

2. George Carton (1755 – 1804)

3. Peter Carton (1787 – 1830)

4. Denis Carton (1813 – 1865)

Peter Joseph Carton (1851 – 1938)

Joseph Carton (1842 – 1921)

Thomas Carton (1844 – 1927) 5

Ado Carton * (1894 – 1990)

6 Vincent Carton (1888 – 1963)

Fonso Carton (1885 – 1981)

Thomas Carton (1897 – 1967)

Leo Carton (1887 – 1913)

Peter Carton (1898 – 1936)

Hugh

7 Brian Ruth Ann Myles Garret Mary

Thomas Miriam Enid Helene

8 Vincent Justin

Kate Sophie Isabelle Geraldine Chloe Holly Aimee Alanna 9

Carton Bros

Estd. 1775 Family

• Gen 1 to 6

• Gen 7

• Gen 8 – 1979

– Vincent

– 1980’s

– Not happening

– The talk (1998)

• Learning's

Succession without a Plan

a) Family Council & Charter

b) Good Shareholder

c) Summer work

d) Criteria for next gen

e) Skillset

f) Passion

g) Progression plan

h) Choosing the leader

i) Standing on the shoulders of giants

Family in the Business

• Transfer timing – Crisis

• Wealth transfer – what exists

• Who selects the leader ?

• Family engagement

• Non family

• Talk of failures

Learning's

Thank You

DCU Centre for Family Business

www.dcu.ie/centreforfamilybusiness

Email: familybusiness@dcu.ie

Phone: +353 1 700 6921

Linked In: DCU Centre for Family Business

Quinn Family

Foundation