Bliffert Completes Partial ESOP Sale
After over 115 years in business, Bliffert Lumber and Hardware announced the partial sale of the company to its employees via an Employee Stock Ownership Plan (ESOP) representing the Bliffert employees.
Employee Stock Ownership Plans (ESOPs) are qualified retirement plans that buy, hold, and sell company stock for the benefit of the employees, providing an ownership stake in the company.
In the announcement made on April 10, 2022, Eli Bliffert, company vice president, outlined how important it was for the Bliffert employees, who helped grow a robust and prosperous company, to share in its ownership into the future.