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Family affair Having made their millions from pies, the Thomas brothers moved into property and own a string of airports. By Neil Jones
With an estimated fortune of figom (Estates Gazette Property Rich List 2003), brothers Stan and Peter Thomas are never far from the action in Wales.
The Merthyr grammar school boys - whom EG placed as the second most affluent property people in Wales, and 42nd in the UK -shot to prominence in the late 19805 when their family-run pies and sausage rolls firm, Peters Savoury Products, tickled the taste buds of foods giant Grand Metropolitan.
Its offer of more than £jom for the business based in Bedwas, South Wales, proved too good to refuse.
Split three ways between the brothers and their sister Mary case, the windfall set Stan and Peter on a journey that has seen their combined fortune soar by almost £iom pa for the past 15 years.
Keeping out of the limelight
Typical of wealthy men, the brothers shy away from the media, largely because of concerns that they will always be known as the valleys boys who made their fortune from pies and pasties, rather than for their business acumen which has served them well for more than four decades.
A series of property deals have underpinned the majority of Peter's activities during the years since the sale to GrandMet, while brother Stan has bolstered his fortune in the airports industry.
In recent months, Peter has been steadily cashing in the vast majority of his property interests, accumulated via Cardiff-based property development company Atlantic Property.
But as is the nature of the two brothers, you will not see the company's property deals being announced with fireworks. Roger Thomas, chairman of Cooke & Arkwright, highlights the understated way the company goes about its business. "Atlantic has been a very successful property develover over the past few years and has gone about its business very efficiently and ithout a lot of flag waving," he says.
Atlantic most recently banked £ym from the sale of two offices in South Wales and Blackburn. The first, a 35,000 sq ft HQ building occupied by Welsh...