Odell Brewing Turns Company Over to Employees

Odell Brewing Turns Company Over to Employees

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By Chris Furnari of Brewbound

Another Colorado craft brewery has turned ownership over to its employees.

Fort Collins-based Odell Brewing tonight announced the establishment of an employee stock ownership plan, transferring 19 percent of company stock into a newly formed trust in which all 115 employees will participate.

The stock in the ESOP will change in value as the company grows, the company said in a statement. The founders will remain in active management, with Wynne Odell continuing to serve as CEO.

“The craft beer industry is changing dramatically and we have seen several of our friends and neighbors selling their companies, in whole or part, to major brewers and private equity firms,” brewery founder Doug Odell said in the release. “While these options are more lucrative than the one we chose, we believe that the people who built OBC are the best ones to lead us successfully into the future.” … CLICK HERE TO READ THE FULL STORY AT BREWBOUND



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