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Category: Material
Volume: 40
Issue: 5
Article No.: 5745

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NewAge® Industries Employee Owned
At a recent company-wide meeting, it became official: NewAge® Industries is now entirely owned by its employees through its ESOP (Employee Stock Ownership Plan). The event was the culmination of a plan first considered by CEO Ken Baker more than two decades ago.

“I’ve had a lot of other business owners ask me, ‘Why employee ownership? Why not just take the highest offer and walk away?’” said Baker. “And my response has always been, ‘Because I don’t want to see the company that my father started, and that we’ve worked so hard to build, get broken into pieces, or shuttered, or absorbed by some big conglomerate.’”

Baker continued, “There are a good number of people who’ve been with NewAge for over ten years. Another group has passed the fifteen-year mark, and several more have over twenty years of dedication. There are even a few employee-owners who’ve been with NewAge for over twenty- five years. The ESOP is one way to reward these long-term team members after they retire.”

“I’m so glad to have this succession plan in place,” said Baker. “It keeps everyone employed at a progressive and very successful company, and it maintains the pride of ownership we’ve developed over the past thirteen years.”

For more information, contact NewAge Industries, 145 James Way, Southampton, PA 18966, 800-506-3924/215-526-2300, E-mail: info@newageindustrie.com; Web: www.newageindustries.com.

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