Harrell’s becomes employee-owned

Harrell’s is celebrating its 75th anniversary in a very big way by offering its employees an ownership stake to take the company forward in future.

(Pictured: Harrell's CEO Jack Harrell Jr. speaking at a conference last month in Lexington, Ky.)

In a statement provided exclusively to Golf Course Industry, the company said: “Harrell's, LLC is proud to announce the formation of the Harrell's Employee Stock Ownership Plan. As of September 30, 2016, Harrell's ESOP has been vested as the sole owner of Harrell's, LLC. The Harrell and Schermerhorn families are confident that the Harrell's ESOP will be the catalyst for sustained growth, heightened employee morale, and provide the foundation for the future of the company.”

The company said the decision to form the ESOP was based on their longstanding core belief that its employees are its greatest asset. “Through the Harrell's ESOP, our employees will have a greater connection to the value creation of the company in order to better provide for their future,” the statement said. “This new and exciting chapter is a continued part of Harrell's goal to be an industry leader through empowering its employees to work for our customers' success.”

Look for more details about the program when the official announcement is made later today.