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Tucson Brewing Owners Bestow Company To Their Employees

independent.co.uk

The owners of a 12-year-old Tucson-based brewery have gifted the company to their current employees to create what they say is the first employee ownership plan in Arizona's craft beer industry.

The Arizona Daily Star reported that the Barrio Brewing Company owners bestowed the company to their more than 60 employees Monday.

The owners say the employees would own Barrio Brewing under an Employee Stock Ownership Plan.

Officials say the employees would buy the brewery from the owners over the next five years with proceeds from the brewery's profits.

Officials say employees who have been with the brewery for at least five years would become vested owners.