Historic North East ice cream business Mark Toney & Co sold following owner’s retirement

Specialist business property adviser, Christie & Co has announced Mark Toney & Co Limited, a well known North East ice cream business, has been sold following its owner’s decision to retire.

Established in 1892 by Giovanni Marcantonio, Mark Toney & Co has been a North East staple for over a century. When the current owner, Antony Marcantonio, Giovanni’s great grandson, made the decision to sell the business in order to retire, this presented an “incredible opportunity for an aspiring and ambitious new owner”.

The business was up for sale in its entirety as a going concern. This included the production facility and headquarter offices at Benton Square Industrial Estate, along with the two long standing ice cream parlours/coffee shops occupying prominent trading positions in Newcastle city centre.

The Grainger St outlet has traded since 1962 and is the oldest coffee shop in the city and Percy Street was established in 1974.

Antony and his wife Anne commented: “We are thrilled to have finally sold our business and excited to begin our retirement. Mark Toney & Co has been our family business since 1892, so taking the decision to sell was not one we made lightly.

“To that end we are immensely pleased to have been able to retain the business within the family and we hope to see Mark Toney continue to thrive and grow. We’d like to say a huge thank you to all of our customers and employees, some of whom have been with us a lifetime!”

The new co-owner and new managing director, Chris Raynes, is also a direct descendant and great great-grandson of Giovanni Marcantonio. He said: “I am incredibly proud to have acquired this thriving business with an amazing personal family history. To be in a position to be able to continue in the footsteps of my ancestors is an absolute privilege and honour.

“I know there are some huge shoes to fill. This was an opportunity I couldn’t let pass by. Having spent many of my younger years working both in the factory and on the ice cream vans, the business has enormous sentimental value for me and is certainly not simply an investment.

“Antony and Anne have been incredibly supportive of my ambition to buy the business and we’ll be working closely together to ensure a smooth transition.”