New England Natural Bakers Now Owned by Employees
Owner/founder hands over the reins after 35 years
GREENFIELD, Mass., Jan. 30, 2013 /PRNewswire-iReach/ -- New England Natural Bakers, a prominent granola manufacturer, is now 100% employee owned. On January 1st, 2013 NENB entered into an "ESOP" or Employee Stock Ownership Program.
The company was founded in 1977 by John Broucek and has been a mainstay in the Natural Foods industry. "The ESOP option emerged as the best solution for our 45 plus employees; guaranteeing the viability of our values based culture and preserving jobs while remaining at our current location," says Broucek. He will remain with the company in the role of General Manager.
About Employee Ownership
An ESOP is a qualified, defined-contribution employee-benefit plan, much like a traditional profit sharing plan. All employees actually become stockholders in a business, reaping the value appreciation when they are vested and retire from the business. Employees do not pay outright for the stock, but rather the stock is allocated to them as a benefit according to a nondiscriminatory formula that takes into account an employee's compensation, seniority and other criteria. ESOP's have high regard in the business world because they do have a record of performing better than other forms of businesses, and better performance translates to better profit and company worth.
About New England Natural Bakers
Since 1977, New England Natural Bakers has been producing exciting and nutritious all-natural and organic products while contributing to environmental and social improvement initiatives. Located in the foothills of the Berkshire Mountains of Western New England, New England Natural Bakers is an employee owned company of over 40 people. In addition to an extensive assortment of bulk products they offer a popular line of pouch granola that includes both organic and conventional formulations and the popular new whole grain granola Clusters.
New England Natural Bakers will maintain its strong private label presence as it has become the granola manufacturer of choice, both on the East Coast and Nationally. The company has built many strong relationships in both the conventional and natural channels and looks to continue to nurture partnerships as it branches out to a wider market with new formulations and products, such as the clusters. New England Natural Bakers can be found online at www.nenb.com
Media Contact: Larry Cornick New England Natural Bakers, 4137722239, firstname.lastname@example.org
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SOURCE New England Natural Bakers
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