On February 8th, the news officially broke that Burlington-based Switchback Brewing Company has been sold to its employees as an 100% Employee Stock Ownership Plan (ESOP), making it the 7th brewery in the country to choose that path. Given the visibility of the craft beer sector in Vermont's economy, the news spread like wildfire, boosting public awareness of the ESOP model. A sampling of the press:
- Video Segment from WCAX TV
- Seven Days interview with founder Bill Cherry
- Article in BrewBound (craft beer business press).
- Vermont Public Radio
Needless to say, the VEOC is excited to welcome Switchback as the newest member of Vermont's Employee Ownership community, and we're looking forward to raising a pint of their Citra-Pils to celebrate their transition soon!