BERKELEY, Calif. Clif Bar on Tuesday announced the selling of family-owned common stock to its employees through an employee stock ownership plan.
Employees through the ESOP will own 20% of the company.
“All along we wanted to create a company where we would want to work,” stated Kit Crawford, Clif Bar & Co.’s co-CEO. “Employee ownership is one more way we could run a different kind of business: one that inspires a team of people to make the kind of delicious, nutritious food we’d like to eat, and that strives for a healthier, more sustainable world.”
No change in management structure will take place, the company stated.