Clif Bar & Company, the leading maker of all-natural and organic food and performance nutrition for athletes, is pleased to announce the selling of family-owned common stock to its employees through an Employee Stock Ownership Plan (ESOP). Employees through the ESOP own 20% of the company, while husband and wife owners—Gary Erickson and Kit Crawford—retain the remaining 80%.
"All along we wanted to create a company where we would want to work," said Crawford, Clif Bar & Company's co-CEO. "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."
"Our company is our people," said Erickson, founder and co-CEO. "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."
No change in management structure will take place, with Erickson and Crawford remaining majority owners and co-CEOs of the company.
Founded in 1992, Clif Bar & Company has annual net revenues greater than $200 million. The company currently has 239 employees and is readying for its move to a new green headquarters at1400 65th Street in Emeryville, Calif., in the fall.
Clif Bar & Company is a leading maker of nutritious, all-natural, organic foods and drinks, including CLIF(R) BAR energy bar, LUNA(R), The Whole Nutrition Bar for Women(R); and CLIF Kid(R), Nourishing Kids in Motion(R). Focused on sports nutrition and healthy snacks, the company is committed to sustaining its people, brands, business, community and planet. clifbar.com