A mid-sized Vermont brewery has become the latest employee-owned craft beer company in the US. On February 8 the Switchback Brewing Company in Burlington, VT officially became the first 100 per cent employee-owned brewery in the state via an Employee Stock Ownership Plan (ESOP).
At the company’s annual meeting, owner and brewmaster Bill Cherry announced to the brewery’s 30 employees that they had become partners in the ownership of the 14-year-old company. Cherry, who will remain as company President and Brewmaster, said that he wanted Switchback to be Vermont-owned forever. “Entrusting the brewery to the employees ensures the company will carry on with its mission to provide great beer and great jobs to the local community,” Cherry said. “It’s theirs to grow and nurture and reap the benefits.”