New Belgium Becomes 100% Employee Owned

FILED JANUARY 15, 2013

Dear Client:

Everybody is talking about private equity or M&A taking over the craft beer world, but New Belgium's Kim Jordan has gone an alternate route. New Belgium announced this morning that the company's Employee Stock Ownership Program (ESOP) has purchased the balance of company shares, making it 100% employee-owned. NBB has been a partial ESOP since 2000 with a controlling interest held by co-founder Kim Jordan and her family.

"There are few times in life where you get to make choices that will have multi-generational impact - this is one of those times. We have an opportunity to write the next chapter of this incredible story and we're really excited about that," said Kim Jordan. "We have always had a high involvement ownership culture and this allows us to take that to the next logical level. It will provide an elegant succession framework that keeps the executive team in tact ensuring our vision stays true going forward."

Jordan plans to remain CEO for the long-term and the executive team at New Belgium will continue in its current form. New Belgium was advised by Eureka Capital Markets.

The deal was completed on the 28th of December with a companywide announcement made during New Belgium's annual winter retreat yesterday. All 456 employee-owners were present for the celebration. Prior to this deal, New Belgium co-workers held 41% of the company's shares.

Until tomorrow, Harry

"Few things are harder to put up with than the annoyance of a good example."
-Mark Twain

THE BEER SUMMIT AGENDA: https://docs.google.com/open?id=0B_AxpKotj17vSVRLQlM5YkE4QWM

--------- Sell Day Calendar ----------
Today's Sell Day: 10
Sell days this month: 22
Sell days this month last year: 22
This month ends on a: Thurs
This month last year ended on a: Tues
YTD sell days Over/Under: 0

----

(c) 2013 BeerNet Communications, Inc. - All rights reserved. Please, no forwarding or copying. Individual subscriptions $580/year. Corporate rates available.
Editor & Publisher: Harry Schuhmacher - hs@beernet.com
Twitter: @beerbizdaily

Blog: www.harryschuhmacher.com

Assistant Editor: Emily Pennington - bbdeditor@gmail.com
Associate Editor: Megan Metcalf - megan@beernet.com
Craft Beer Editor: Jenn Litz - jenn@beernet.com
Customer Service: Kim Griffin - admin@beernet.com


Check beernet.com for back issues or to subscribe or renew. Phone: 210-805-8006. Email: admin@beernet.com

We have a new mailing address:

909 NE Loop 410, Suite 720

San Antonio, TX 78209

Go back to listing Go to next article Go to previous article

Top Secret News Hotline:

Got beer news for BBD?

Submit Anonymously
twitter facebook