Contact: Larry Cornick
FOR IMMEDIATE RELEASE
New England Natural Bakers Now Owned by Employees
New England Natural Bakers
Owner/founder hands over the reins after 35 years.
Greenfield, MA – (Virtual Press Office
) -- 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 has a strong private label presence and is a co-packer of choice among discerning manufacturers and retailers. New England Natural Bakers
can be found online at www.nenb.com