Tuesday, December 22, 2009

“Gardener's Supply wholly owned by employees - BurlingtonFreePress.com”

“Gardener's Supply wholly owned by employees - BurlingtonFreePress.com”

Gardener's Supply wholly owned by employees - BurlingtonFreePress.com

Posted: 22 Dec 2009 01:28 AM PST

Free Press Staff Report

Gardener's Supply, a Burlington-based garden products retailer, became fully employee-owned Monday.

Will Raap, founder and majority owner, began selling shares to employees through an employee stock ownership program in 1987. The program allows all employees to earn stock and share in company profits.

"I'm delighted the work we started 27 years ago will continue. Our founding mission statement was to spread the joys and rewards of gardening," Raap said. "Gardening is even more relevant today than it was when we started."

Although the company says it could have sold to outside buyers, Raap's vision is to create a business where "people, planet and profits" are equally important.

"At a time when many jobs are moving overseas or companies are being sold to large conglomerates, employee-ownership reaffirms Gardener's Supply's commitment to Vermont and its employees," the company said in a written statement.

Cindy Turcot, the company's chief operating officer, has been leading the efforts to make the company employee owned

Turcot has a 27-year history with the company and is primarily responsible for initiating the company's open-book management style and profit-sharing program. She is a nationally known expert on employee stock ownership and was the first board president of the Vermont Employee Ownership Center.

Gardener's Supply has two locations, in Williston and Burlington's Intervale.

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