NewAge Industries, AdvantaPure’s parent company, established its ESOP in January 2006 when CEO Ken Baker sold 30% of the company to the employees as a way to ensure the company’s continuation. In 2019, NewAge became 100% employee owned. The ESOP added a new facet to our company’s culture—a complete commitment from everybody to the success of the organization.
Our Employee Stock Ownership Plan (ESOP) reflects NewAge’s guiding principles and passion for our work and our team. This is in addition to many other value-added benefits, such as a discretionary bonus plan, paid volunteer time and tuition reimbursement. Our ESOP and employee ownership help us create a rich workplace culture that recognizes the successes of our people, motivates and retains team members, and listens to everyone’s needs and goals in an effort to support the long-term growth of the company. For customers, it also means that you are dealing with an owner every time you contact NewAge, and we take that seriously.
Since the inception of the ESOP, NewAge has continued to grow and prosper. This employee ownership success has had a beneficial effect on the morale, attitude, and future retirement of NewAge Industries’ employee-owners.
NewAge built its solid reputation by providing a high level of customer support and service, along with superior products. The ESOP lets employees expand upon that by allowing them to take true ownership of their positions. Baker says “When a customer calls, they speak with an owner. The employees’ jobs are part of an investment in their future, and that’s reflected in their communications with customers and suppliers, and with each other, now more than ever.”
Another customer benefit resulting from the ESOP is that it sets up a succession plan for the organization. Many of today’s international conglomerates become larger by acquiring small companies. Plants are often closed, and production is moved offshore. The knowledge and talent of those employees is lost as they find jobs in other industries. Baker wanted to avoid that possibility and, at the same time, help secure a future for the NewAge brands and their employees.
- NewAge boasts a continuity in supply chain for customers’ critical components
- Our customers speak with a NewAge owner every time they call for support
- The team has a unique pride of ownership so customer needs remain a top priority
- NewAge customer service gets to know customers’ individual needs
Interested in becoming an employee owner? View our current job openings here.