Beau's Brewery announces plan to sell beer business to employees
Shares can be bought through payroll deductions or lump sum payments
The father and son who started Beau's brewery a decade ago say they will sell the company to their 150 employees starting next month.
Beau's, based in Vankleek Hill, about 100 kilometres east of Ottawa, was founded on July 1, 2006 by Steve Beauchesne and his father Tim. The Beauchesne family have maintained majority control ever since, with other investors and friends holding the remainder.
But that all changes next month when the company begins to roll out an Employee Share Ownership Plan that will see the company slowly sold to employees, should they choose to participate.
"By handing the reins over to our employees we are saying this changes everything, because this change is everything," Steve Beauchesne said.
The plan is expected to take years to implement, but will see a portion of the company's privately held shares transferred to participating employees every year. Employees can pay for their shares either through payroll deductions or lump sum payments.
The Beauchesnes have no immediate plans to exit the business entirely, but the plan allows employees to own the business they helped create, and raise money for the brewery's expansion plans.
"We look forward to our expansion and success across Canada, with the help of our new company stewards," Steve Beauchesne said in a statement.