Beau’s Announces Launch of Employee Share Ownership Plan
On May 17, 2016 At 8:15 am
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VANKLEEK HILL, ON – Beau’s All Natural Brewing has announced that it has become one of the first breweries in Canada to transfer ownership of the company to its employees.
Launching on July 1st – the 10th anniversary of Beau’s – the Employee Share Ownership Plan (ESOP) will offer shares in the company to all employees. According to a Globe & Mail report, around 4 to 5 percent of company shares will be available in the first year, with varying amounts offered annually over the next 25 to 30 years.
This move places Beau’s as one of very few breweries in Canada to offer employees an ownership opportunity, and is expected to allow the company to remain independent in the long term.
“My Dad and I started Beau’s ten years ago with the promise of making excellent, flavourful beer, and using our brewery as a force for good,” said Steve Beauchesne, CEO of Beau’s, in a statement. “Our success during this time is strongly rooted in the support of our employees and fans, who have always believed in our promise.”
“By handing the reins over to our employees we are saying this changes everything, because this change is everything,” added Beauchesne. “We look forward to our expansion and success across Canada, with the help of our new company stewards.”
For more details, see the full announcement on the Beau’s website.
UPDATE: Beau’s has released a video of Steve and Tim Beauchesne’s announcement regarding the new ownership structure at a staff meeting yesterday – check it out below.