Family-owned Business Converts to ESOP

St. Paul, MN, May 25, 2023-Herregan Distributors has announced its transition to an Employee Stock Ownership Plan (ESOP) company. This shift represents a significant milestone in Herregan Distributors’ commitment to fostering employee empowerment, engagement and long-term growth.

Under the new ESOP structure, Herregan Distributors' employees will become direct beneficiaries of the company's success, aligning their interests with the overall performance and profitability of the business

As an ESOP company, Herregan Distributors will establish a trust fund that holds shares of the company on behalf of its employees. The ESOP will provide eligible employees with ownership shares, ensuring they have a vested interest in the company's performance and long-term viability.

As seen in Floor Daily