Bob Moore started Bob's Red Mill foods with his wife Charlee in 1978 because he loved healthy food and old-world technologies like stone grinding. His 209-employee company sells hundreds of stone-ground products from flours to bread mixes to cereals and was estimated in 2004 to be worth more than $24 million. The company has stated that they've grown at an annual rate of between 20 and 30 percent every year since.
On Bob's 81st birthday, he sprung the news on employees gathered for his party that he was giving them the company. The whole thing.
It's not surprising to hear that Moore's company has been bombarded with buyout offers over the past few years. He could have easily sold out and walked away a very rich man, but he decided to go a different route and setup an employee stock-ownership plan in which the company stock is placed into a trust in benefit of the employees. They receive money based on the company performance when they quit or retire. You can read more about the plan on the Bob's Red Mill website and in this MNN story and on their blog.
Well played sir.
Here's a clip from ABC News about Moore's gift:
Are you on Twitter? Follow me (@sheagunther) there, I give good tweets.
And if you really like my writing, you can join my Facebook page.
The opinions expressed by MNN Bloggers and those providing comments are theirs alone, and do not reflect the opinions of MNN.com. While we have reviewed their content to make sure it complies with our Terms and Conditions, MNN is not responsible for the accuracy of any of their information.