Founded in 1906, MacPherson’s has grown into the largest wholesale distributor of Fine Art Supplies to retail dealers in the United States and is proud to be 100% owned by its nearly 200 employees. Currently, there are over 11,500 ESOPs in place in the U.S. covering more than 10 million employee owners.
Many companies opt to sell stock to an ESOP (Employee Stock Ownership Plan) when the current owners are getting ready to retire. Although none of us wants Stu or Frank to leave, we realize that at some point they will want to spend more time at home, enjoying the lives they’ve worked so very hard to build. At MacPherson’s, an ESOP provided a very attractive succession plan: Frank and Stu were pleased to share the wealth with the employees who worked so hard to make the company successful. As a result, the ESOP has had an overwhelmingly positive effect on the company, creating broadbased ownership among all employees and fostering an environment in which everyone understands his or her role in helping the company achieve its bottom line. In fact, more than 88% of ESOP Association members report that ESOP implementation was a good overall decision for the company, and another nearly two-thirds of Association members report that the ESOP has helped increase productivity. Our customers, vendors, and business partners now have the security of knowing that once Frank and Stu decide to take a break from the art supply business, there are almost 200 people who will still be here, working hard to help you make your businesses successful.
MacPherson’s implemented its ESOP in 2010. The ESOP provides a retirement benefit to the employee owners that is above and beyond a 401K. MacPherson’s is one of approximately 3,000 ESOPs in the United States that is 100% employee owned. Employee owners are not required to put any money into the ESOP. All of the money in the ESOP trust comes from the company’s profit.
MacPherson’s employee owners invite you to join them in celebrating October’s National Employee Ownership Month. A number of activities will take place throughout October in all four MacPherson’s locations nationwide, culminating in a celebratory luncheon and Q&A
session.
For further information on ESOPs, please visit the ESOP Association website at: http://www.esopassociation.org or call 202/293-2971.