Clif Bar announced yesterday that it was becoming 20 per cent employee-owned following the introduction of an Employee Stock Ownership Plan (ESOP).
Husband and wife owners of the performance food maker, Gary Erickson and Kit Crawford, own the remaining 80 per cent of the firm and remain co-CEOs of Clif Bar.
The ESOP is in keeping with Clif Bar brand values, according to Erickson and Crawford.
“All along we wanted to create a company where we would want to work," commented Crawford. "Employee ownership is one more way we could run a different kind of business: one that inspires a team of people to make the kind of delicious, nutritious food we’d like to eat, and that strives for a healthier, more sustainable world.”
Erickson added: “Our company is our people. By retaining private, employee ownership we will continue to have the freedom and flexibility to build a sustainable business with long-term focus for future generations.”
Clif Bar currently employs 239 employees and boasts annual net revenue topping $200m. Founded in ’92, the firm is moving to new green headquarters later this year.