Arnold's keeping it in the family

CAR dealership chain Arnold Clark has become the UK's fifth-largest family-owned business, according to an annual league table.

The ten largest family firms grew their combined turnover by 10.2 per cent to 35.5 billion, with sales at Glasgow-headquartered Arnold Clark revving up to 2.3bn from 2.2bn, driving it up the rankings.

News of the rise came as the dealership, which was founded by chairman and chief executive Sir Arnold Clark in 1954, yesterday announced the opening of Toyota showrooms in East Kilbride and Glasgow. The firm said it is now the largest Toyota dealer in Scotland, with eight sites.

The league table, compiled by the Institute for Family Business (IFB), showed that Associated British (AB) Foods retained its place as the UK's largest family-owned company, with revenues up to 10.2bn from 9.3bn.

Although AB Foods is listed in London, the stake held by the founding Weston family means that the IFB still classes the company as a family concern. The firm makes Kingsmill bread and Twinnings tea, as well as owning discount clothes chain Primark.

Grant Gordon, director general of the IFB, said: "The UK has seen difficult trading conditions in the past year, but there have been some remarkable success stories among the UK's top family businesses. With family firms contributing almost one-third of our GDP, the sector is becoming increasingly important."