The restaurant recently celebrated its 50th anniversary, and as the owner plans to retire, he has decided to sell his company to the employees. via ColetteBordelon
IDAHO SPRINGS, Colo. — Beau Jo's in Idaho Springs has become an iconic pit stop for people heading home from the mountains to grab one of their unique pizzas. The restaurant recently celebrated its 50th anniversary, and as the owner plans to retire, he has decided to sell his company to the employees.
The Employee Stock Ownership Plan would apply to every Beau Jo's location, according to Bair, which impacts around 250 employees. “It's a big deal. We want to make sure we're doing our research and making the best decision for the employees in the business," said Bair. “The shares will be company-wide. It won't be divided up by location, because we do have employees that travel to different locations in different seasons... It'll be in their stock plan. So they'll get those stocks, and then when they choose to retire or leave the company, then they'll be able to cash out and get that money.
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