California-based Homegrown Organic Farms is pleased to announce the company’s transition from a corporation to an ESOP (Employee Stock Ownership Plan). The transition took place in April 2021 and was finalized May 1 of this year.
“John and Cindy France founded the company in 1998 and have always had a heart for their employees,” a release states. “From offering far above industry-standard benefits to creating a healthy work environment, the ESOP transition is simply another wonderful testament to the France's dedication to seeing that their employees are well taken care of, even beyond their direct involvement/ownership in the company.”
John France, Homegrown Organic Farms founder said, “This is a great exclamation point to our season as owners of the company. We trust the staff in place to take Homegrown to the next level, beyond what we ever could. We are so grateful for their dedication and service as we step into this next stage of life.”
The decision to transition ownership from the founding families to the employees is a great option in retaining the culture and values that are foundational to who Homegrown Organic Farms is. We did not want to change the essence of Homegrown as the founding families planned their exit strategy. The ESOP structure is a wonderful answer to that and a great way to further our vision of “Inspiring people to live this life for a greater purpose”.
Scott Mabs, Homegrown Organic Farms CEO said, “We are very excited about this new chapter of the company’s development. It is an opportunity to build long term wealth for all team members and further develop an ownership mindset throughout the company. Homegrown is looking forward to what this next era of employee ownership will bring to the success of the company.”
Contact:
Cherie France
Homegrown Organic Farms
Cherie.France@hgofarms.com