The sold shareholders of PFSbrands, Shawn and Julie Burcham, have concluded the sale of 100 percent of the company to its employees through an employee stock ownership plan (ESOP). PFSbrands is the parent company to the Champs Chicken and Cooper’s Express brands.
CEO Shawn Burcham and the company’s senior leadership team will remain in their roles.
“I’m really excited to provide every one of our employees with the unique opportunity to earn stock in the company where they work,” Burcham said. “We believe the ESOP is the ultimate business structure because it turns employees into employee owners who have a real stake in the outcome of their company’s business. The shares we allocate to our employee owners through the ESOP do not require a monetary investment on their part… but of course, the hard work these employees contribute and the results they achieve most certainly influences the value of their shares.”
Burcham began exploring the idea of an ESOP five years ago after reading The Great Game of Business by Jack Stack.