Bob's Red Mill becomes employee-owned
February 16, 2010
by Eric Schroeder
PORTLAND, ORE. — Bob’s Red Mill Natural Foods has become an employee-owned company through a new employee stock ownership plan (ESOP), said Bob Moore, company founder, on Feb. 15. Mr. Moore said no changes are planned in the company’s make-up.
“It’s been my dream all along to turn this company over to the employees, and to make that dream a reality on my birthday is just the icing on the cake,” said Mr. Moore, who turned 81 on Feb. 15.
Mr. Moore and his wife, Charlee, founded the company in 1978. Bob’s Red Mill offers a line of all-natural, organic and gluten-free flours, cereals, meals and mixes for bread, cakes, soups and pancakes. The company, which is based in Milwaukie, Ore., and employs more than 200 people, has averaged an annual growth rate of 20% to 30% over the past 10 years.
“By creating the ESOP, Bob and the partners have fulfilled their ultimate quest for sharing success among all employees,” said Roger Farnen, quality assurance manager. “And it provides tangible incentives for optimal achievement no matter what their position in the company.”