Newport Avenue Market, the food hub of Central Oregon, announced to employees this week that the specialty grocery store is now an employee owned company.
“Newport Avenue Market is successful because of our employees,” said Rudy Dory, who with his wife Debbie founded the company in 1991. Management announced the new ESOP at an all-company meeting at the Bend, Oregon store.
Dory, who is active in the day-to-day operations of Newport Avenue Market, said there would be no changes in the make-up of the company. “We love our employees and we believe they should share in the success in a tangible way. That is why we chose an Employee Stock Ownership Plan. We run a successful business because of the people who work at Newport Avenue Market.”
The ESOP makes Newport Avenue Market Central Oregon’s first employee owned grocery store. “The ESOP offers employees an opportunity to be rewarded for their hard work and shows our commitment to our loyal customers,” said Lauren Johnson, Chief Operating Officer and Dory’s daughter. “We will remain locally owned.”
Assistant Manager Joe Anzaldo said, “The owners could have sold this company many times, but they are committed to each employee. This change means as employee owners we are making money for our retirement. This is a true gift.”
About Newport Avenue Market
Located on the west end of beautiful Bend, Oregon and locally owned since 1991, Newport Avenue Market serves as the food hub of Central Oregon, offering shoppers both mainstream and specialty grocery options, all in a vibrant environment. Their expansive selection of high-quality, in-demand food and beverage items, otherwise known as the “Triple G” – Groceries, Gadgets and Gifts! – keeps shoppers always on their toes. The store employs over 100 “internal foodies,” with an average employee tenure of 10+ years (no lie!). With an atmosphere where people in the community come together for all things food, and not to mention a selection of over 500 brews to choose from, Newport Avenue Market has become the food hub of Central Oregon. For more information about Newport Avenue Market, call 541-382-3940 or visit www.newportavemarket.com. Life is Short. Eat Good Food.
