Litehouse ,Inc., Sandpoint, Idaho, announced that effective Dec. 22, 2014, 100% of the company's stock was sold to its employees through an Employee Stock Ownership Plan (ESOP). The move continues the opportunity for all current and future employees to become owners of the sauce, dip, herb, cheese and salad dressing processor, which has been family owned for over 50 years. Litehouse first formed an ESOP plan in 2006, selling 30% of the company as a commitment to its employees and communities. The move to 100% ESOP ensures continued local ownership.
"We are incredibly proud of our company, and want our legacy to be shared with the talented and dedicated employees who have contributed to its growth,” says Doug Hawkins, chairman of the board of directors. “The move to 100% employee ownership allows every employee to be an owner and ensures the future success of Litehouse for generations to come.”