Hollandia Produce, L.P., a leading purveyor of living butter lettuce, announced today it is transitioning the company to become employee-owned by implementing an Employee Stock Ownership Plan (“ESOP”). Pete Overgaag will stay on as Chief Executive Officer (CEO) and, assisted by the current executive management team, will remain heavily involved in company operations through this transition.
Mosaic Capital Partners (“Mosaic”) and Endeavor Structured Equity and Mezzanine Fund (“Endeavor SEAM”) supported this transition by structuring and funding the ESOP. SDR Ventures served as financial advisor and helped Hollandia successfully pursue and complete the ESOP transaction.
Overgaag and his executive team expressed pride in rewarding their loyal employees and maintaining the company’s emphasis on tradition and community by providing employees with the ability to share in the success of the business through a significant retirement benefit at no cost to the employee.
CEO Pete Overgaag shared, “I am honored to lead Hollandia through this transition, which will continue our commitment to our customers, employees and company values. Hollandia is well positioned for growth. I am excited our employees will be able to share in our future success.”
For more information:
Emily McNelly
Hollandia Produce
+1 805 684 4146