Deschutes Brewery announces that it has made its first contribution to an Employee Stock Ownership Program (ESOP). Twenty-five years ago, Gary Fish founded Deschutes Brewery as a small brew pub in downtown Bend and has since grown to be the fifth largest craft brewery in the nation. This success can be attributed in great part to the dedication and pride the company’s employees take in their work.
“This program for the people that have made Deschutes Brewery a success over the last 25 years is exciting for all of us,” said Fish. “The Employee Stock Ownership Program allows everyone at the company to benefit from value built through continued success. We all take a great amount of pride in what we do and this will reinforce that. We are looking forward to the next 25 years!”
This commitment is being celebrated and shared in a very tangible way – last week, stockholders made the very first contribution to the brand-new Employee Stock Ownership Program (ESOP) trust at Deschutes Brewery. Providing ownership in the company to its employees was the perfect way to help the brewery celebrate its silver anniversary this year and enable employees to share financially in Deschutes Brewery’s continued success.
While employees have always been committed to advancing and ensuring the success of the company, this program will instill an even more significant commitment – at every level – to the brewery’s future adventures.
The program is being administered by Neil Brozen, an independent ESOP trustee from Bankers Trust Company.
Employees will gain shares of the program based on time served with the company (back years of service are being honored).
While employees now own a portion of the company, founder Gary Fish and various family members control the majority of shares, maintaining their commitment to the long term success of the brewery. Now, not only is the Oregon-based brewery family-owned, it is also employee-owned.