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Nisbets founder’s £500m fortune ‘unchanged’ according to latest Rich List

Andrew Nisbet, chairman 3

Andrew Nisbet is once again the catering equipment sector’s sole entrant in The Sunday Times’ annual Rich List.

The iconic guide, which provides an annual insight to wealth in the UK, puts his fortune at £500m, which is unchanged from last year. It ranks him joint 268th compared with 251 last year.

Mr Nisbet is listed as ‘Andrew Nisbet and Family’ in the annual ranking of the UK’s 1,000 wealthiest people.

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This year the Sunday Times did not provide any commentary to support his listing. Last year it said: “Nisbet, 57, started his ‘Amazon of the cookery business’ from his car boot 35 years ago after spotting catering students lacked a one-stop shop. Profits at the £460m parent company of Bristol-based Nisbets rose to £39.6m last year.”

Nisbets is by far and away the largest supplier of commercial foodservice equipment in the UK, more than twice as large as any other standalone business in the sector by annual turnover.

The firm rose to the top on the back of its successful mail order and telesales business, but was also one of the first to adapt its business to the advent of the internet by creating a powerful ecommerce engine. Mr Nisbets currently serves as the company’s chair and is a director of Key West Holdings, which holds his family’s business interests.

Britain’s 1,000 richest individuals and families are sitting on record wealth of £771.3 billion, up nearly £48 billion on the previous year, according to the Sunday Times. There are now 151 billionaires in the UK, six more than last year. The threshold at which the super-rich make the list has risen to £120m.

In the wider hospitality there were several prominent figureheads appearing in the list.

Charlene De Carvalho-Heineken and Michel De Carvalho ranked 7th with a wealth of £900m. The beer heiress is the daughter of late boss Freddy Heineken. The Dutch brewing giant owns Star Pubs & bars as well as Bulmers Cider, Tiger Red Stripe and Newcastle Brown Ale.

Restaurateur Richard Caring is 213th on the list, with a fortune of £650m. He owns the Ivy, Le Caprice, and Scott’s restaurants and is set to earn well from a 30% slice of private members’ club Soho House, which was last year lining up a New York float.

Ranjit and Baljinder Boparan are six places below Caring with a wealth of £640m, a decrease of £106m on the previous year. Boparan’s company owns Giraffe and Ed’s Easy Diner, which announced plans earlier this year to close 27 sites as part of a CVA to protect the business.

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Andrew Seymour

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